Less tourists who spend more money as opposed to lots of tourists who allegedly spend little, that's the question - but the latest report states that British holidaymakers, be they “quality tourists” or not, over spend every year by £6 billion. Britons collectively overspend by more than £6 billion while they are on holiday, and many face financial problems when they return home, according to new research. On average, people spend £235 more than planned while they are away, and nearly a third admit they dread looking at their bank balance or credit card statement when they get home, according to first direct bank. The main problem is people losing track of how much money is in their account while they are away, with 13% claiming they don't keep a record of their withdrawals. About 12% of those questioned also say they lose track of their bank balance due to making mistakes when converting pounds into the local currency. Men are more likely to overspend than women, getting through an average of £300 more than they had planned to compared with women's £197. And Londoners are more likely to lose track of their finances than people from other regions, overspending by an average of £317, followed by those in the North West who spend £288 more than they plan to while on holiday. People from the North East are best at sticking to their budget, spending an average of £192 extra, followed by those in Wales, the West and Scotland at £213. Alan Hughes, chief executive of first direct, says: “Holidays are about chilling out and no one wants to come home to find out that the heat is on from their bank. “But equally, nobody wants to be worrying about their money when they're enjoying their annual break.” This summer in the Balearics, the British are the dominant force and have more spending power on the back of the strong Pound, despite a recent dip against the Euro. Euro zone tourists are the first to have noticed the high cost of living in the Balearics and the little difference in price between goods at home and items here. There is a school of thought that discount holidays attract visitors with less money, while on the other hand, those who have paid less than expected for their holidays will have more money to spend.

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