30/08/2013 00:00
TW
0

FUN-SEEKING Britons will overspend by a total of £3bn while on holiday this year, according to a new survey.
One in four tourists heading overseas from the United Kingdom will spend too much, with men and younger holidaymakers the main culprits, the survey from First Direct found. Last year, British adults spent £253 more than originally planned while on holiday and this year the figure is likely to rise to £256.
Chief among the excuses used by Britons was difficulty converting local currencies to sterling values, while one in seven said they lost track of the amount of money leaving their account while away. The biggest overspenders this year are likely to be Londoners, who are expected to exceed their budget by £301 according to the survey.
At the other end of the scale, people from the North East of England are the best at keeping their spending under control when on holiday.
Overall, men are more likely to overspend than women, while 41% of 16-24 year olds and 36% of 25-34 year olds are prone to breaking their budget.
BIG SPENDERS “The last thing anyone wants to think about while on holiday is coming back to find their finances in a state of emergency and their bank turning up the heat,” said Alan Hughes, First Direct chief executive. The British are the biggest spenders in the Balearics. On average, last summer, holidaymakers to the Balearics spent 82 euros per day, but British tourists spend an average of 100 euros per day and this summer, because of the strength of the Pound, British tourists are expected to have upped their holiday spending. Contrary to popular belief, the big spenders are not the Germans, they average out at around 70 euros per day.
Holiday home owners spend an average of 62 euros per day while business clients spend nearly 140 euros per day, although much of that is covered by their employer. In total, while Eurozone recession may hamper spending this year, tourism is still expected to bank 5.000 million euros in the Balearics.