Travellers use cash more when on holiday than they do at home
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dhewitt@abta.co.uk Mon, 10/21/2024 - 15:57
New research from ABTA Travel Money has revealed many holidaymakers are more likely to pay for items with cash when on holiday overseas, compared with when buying items at home in the UK.
ABTA’s new figures reveal that 44%1 of UK holidaymakers say they use cash more when on holiday abroad, compared to 7% who say they use less.
The findings come as families look to make the most of the October half term over the next few weeks.
The most common reason why UK adults are splashing the cash rather the swiping the plastic abroad is it often being the only form of payment accepted at the destinations they’re visiting, according to more than two in five people (44% of respondents).
While paying by card is widely accepted across the UK, holidaymakers may find it quite different when they visit some overseas destinations. Smaller resorts, towns or villages may not accept cards, and there are places, like Germany, where cash is more widely accepted in bars and restaurants than credit or debit cards.
ABTA is recommending people take some cash with them when on holiday, so they know that they can pay for the things they want to buy, without having to resort to cash withdrawals which can add on hefty charges or being left stuck without any form of payment.
Almost one in three (28%) of those who use cash while on holiday abroad, said they pay with cash as they are keen to avoid bank charges and ATM fees, and they are right to be concerned. On average, people can face between €2 and €6 per withdrawal when visiting countries such as Spain, Greece and Italy, with currency conversion charges then added on top.
Other reasons cash is preferred is to help manage how much people spend while away (37%), whilst one in five (21%) said it was due to fears of having their card details stolen when abroad and 20% said it was because of concerns their card might not be accepted, leaving them without another payment.
It is young people who are more likely to increase their cash use abroad than any other age group with 54% of 18-34 year olds saying they spend more cash when abroad then back home in the UK.
Graeme Buck, Director of Communications at ABTA Travel Money, said:
“For many travelling abroad, our research suggests that cash is still king when it comes to spending on holiday. Standard payment types vary from country to country, so it is essential to make sure you take enough travel money as you may find you need, or prefer, to pay with cash. Having foreign currency makes for a more convenient, stress-free holiday.”
Notes to editors
1All statistics in this release are from consumer sentiment research conducted between 27-28 June 2024 by YouGov with a nationally representative sample of 2,060 UK adults. The survey was carried out online. The figures have been weighted and are representative of all UK adults.
ABTA is a trade association for UK travel agents, tour operators and the wider travel industry. We’re the largest travel trade body, with over 4,600 travel brands in membership who have a combined pre-pandemic annual UK turnover of £40 billion. We work closely with our members to help raise and maintain standards and build a more sustainable travel industry, and provide travellers with advice, guidance and support.
Our members sign up to a code of conduct and commit to agreed service standards and fair trading. When you need clear travel information, and accurate and impartial advice relating to your trip, we’re here for you. When you book with an ABTA member, reliable advice comes as standard. This means that booking with our members brings peace of mind.
ABTA also offers services to help you on your travels – ABTA Travel Insurance and ABTA Travel Money.
ABTA Travel Money offers over 50 currencies, with the options of secure next day home delivery (or the day of your choosing) or to collect from one of 240 locations after 60 seconds of ordering online (depending on branch opening hours and stock availability). Find out more at External Link.
All this together means we help you travel with confidence. www.abta.com
Continue reading...
Full Page image
dhewitt@abta.co.uk Mon, 10/21/2024 - 15:57
New research from ABTA Travel Money has revealed many holidaymakers are more likely to pay for items with cash when on holiday overseas, compared with when buying items at home in the UK.
ABTA’s new figures reveal that 44%1 of UK holidaymakers say they use cash more when on holiday abroad, compared to 7% who say they use less.
The findings come as families look to make the most of the October half term over the next few weeks.
The most common reason why UK adults are splashing the cash rather the swiping the plastic abroad is it often being the only form of payment accepted at the destinations they’re visiting, according to more than two in five people (44% of respondents).
While paying by card is widely accepted across the UK, holidaymakers may find it quite different when they visit some overseas destinations. Smaller resorts, towns or villages may not accept cards, and there are places, like Germany, where cash is more widely accepted in bars and restaurants than credit or debit cards.
ABTA is recommending people take some cash with them when on holiday, so they know that they can pay for the things they want to buy, without having to resort to cash withdrawals which can add on hefty charges or being left stuck without any form of payment.
Almost one in three (28%) of those who use cash while on holiday abroad, said they pay with cash as they are keen to avoid bank charges and ATM fees, and they are right to be concerned. On average, people can face between €2 and €6 per withdrawal when visiting countries such as Spain, Greece and Italy, with currency conversion charges then added on top.
Other reasons cash is preferred is to help manage how much people spend while away (37%), whilst one in five (21%) said it was due to fears of having their card details stolen when abroad and 20% said it was because of concerns their card might not be accepted, leaving them without another payment.
It is young people who are more likely to increase their cash use abroad than any other age group with 54% of 18-34 year olds saying they spend more cash when abroad then back home in the UK.
Graeme Buck, Director of Communications at ABTA Travel Money, said:
“For many travelling abroad, our research suggests that cash is still king when it comes to spending on holiday. Standard payment types vary from country to country, so it is essential to make sure you take enough travel money as you may find you need, or prefer, to pay with cash. Having foreign currency makes for a more convenient, stress-free holiday.”
Notes to editors
1All statistics in this release are from consumer sentiment research conducted between 27-28 June 2024 by YouGov with a nationally representative sample of 2,060 UK adults. The survey was carried out online. The figures have been weighted and are representative of all UK adults.
ABTA is a trade association for UK travel agents, tour operators and the wider travel industry. We’re the largest travel trade body, with over 4,600 travel brands in membership who have a combined pre-pandemic annual UK turnover of £40 billion. We work closely with our members to help raise and maintain standards and build a more sustainable travel industry, and provide travellers with advice, guidance and support.
Our members sign up to a code of conduct and commit to agreed service standards and fair trading. When you need clear travel information, and accurate and impartial advice relating to your trip, we’re here for you. When you book with an ABTA member, reliable advice comes as standard. This means that booking with our members brings peace of mind.
ABTA also offers services to help you on your travels – ABTA Travel Insurance and ABTA Travel Money.
ABTA Travel Money offers over 50 currencies, with the options of secure next day home delivery (or the day of your choosing) or to collect from one of 240 locations after 60 seconds of ordering online (depending on branch opening hours and stock availability). Find out more at External Link.
All this together means we help you travel with confidence. www.abta.com
Continue reading...
