The UK’s growing ‘holiday gap’: Rising costs are holding families back from booking summer holidays
New research from The Family Holiday Charity reveals the scale of the UK ‘holiday gap’, as over a quarter (27%) of UK families currently won’t be going on a summer holiday this year, with the cost of living and cost of travel cited as the biggest barriers.
The data indicates that rising costs – even relatively small increases – are putting holidays out of reach for UK families, as almost a third (29%) say they are unsure or do not think they will be able to afford a family holiday over the next 12 months.
The findings also indicate how financial pressures are changing travel habits across the UK, as nearly one fifth (19%) of UK families have cancelled a holiday abroad in the past six months due to concerns about rising costs. Meanwhile, separate Airbnb data reveals that UK domestic searches have increased by more than 11% year-on-year, and over the May Bank Holidays, searches for UK stays on Airbnb increased by 15% year-on-year, suggesting many families are increasingly seeking options that are more affordable and closer to home.
For families who have booked a summer holiday this year, the majority (71%) are concerned about the cost of their upcoming break. A third of parents (33%) admit to dipping into family savings to afford a family holiday this summer, while nearly two in five (38%) have relied on financial support from extended family members. Meanwhile, over two-thirds (66%) of UK parents say they would have cancelled their most recent or upcoming family holiday if prices had risen by more than £100.
These findings come as Airbnb announces that its £300,000 donation to the Family Holiday Charity has enabled over 300 families to take their first ever holiday this year. The partnership aims to address the UK’s ‘holiday gap’ by making travel more accessible and affordable, helping families spend quality time together, create lasting memories and discover more of the UK.
The social and well-being benefits of travel are reflected in the data, with spending quality time together (65%), creating lasting memories (56%), and giving children new experiences (48%) being the main reasons why parents think family holidays are important.
Children echo this sentiment, with spending time with family (71%), taking part in fun activities (59%), and making memories (58%) ranked as the main reasons why a family holiday is important to them.
Family Holiday Charity supports families living on low incomes, many of whom have never before experienced time away together, by offering the space to breathe and take a break from daily struggles caused by challenges such as bereavement, caring responsibilities, mental health, insecure housing and domestic abuse.
Previous programmes have demonstrated a substantial impact, with 92% of families supported saying that their holiday had a positive impact on their health and wellbeing.
This partnership is a critical part of Airbnb’s ongoing commitment to the future of UK tourism and supporting the Government’s regional growth strategy.
Last year, Airbnb hosted over 25 million guest nights, with travel on Airbnb generating £8.3bn for the UK economy, supporting 175,000 jobs across the UK. Guests on Airbnb spent £3.2 billion in local restaurants, pubs, cafés, and attractions, with average local spending reaching £450 per stay, helping drive tourism spend beyond traditional destinations and spreading the benefits of travel and tourism to support communities across the UK.
