British tourists prefer using cash when on holiday
Brits spend billions on holidays
01 August 2008UK holidaymakers are defying the credit crunch by spending big on their summer holiday plans, according to a study by a private bank.
Research by Cater Allen revealed that £64 billion is being spent by the UK on holidays each year with around one in five tourists spending more than £2,500 on their break and 32 per cent using up more than ten per cent of their annual income on travelling.
As nine per cent of Brits have had their wallet or purse stolen on their travels, according to Tesco Personal Finance, holidaymakers need to be careful when taking large amounts of money abroad, claims the head of marketing at Cater Allen.
Sally Watts said: "Apart from the obvious security risks of taking too much cash with you when you travel, the costs associated with transferring cash before you leave or using your debit or credit card while abroad can be staggering."
The majority of British holidaymakers prefer to use cash while on a break with 79 per cent of people using foreign currency when abroad, according to Cater Allen.
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