The impact of the cost of living crisis on Brits’ disposable income will have a knock-on effect on the travel industry in 2023, according to new data.
Responses to a survey of 1,522 consumers indicate a change for 2023 holidays, which has the potential to negatively impact the travel trade.
More than 80% of all respondents and 87% of families said they are concerned about the increased cost of living, after disposable income "reduced significantly" in the last six months for 64% of all respondents and 74% of families.
However, only 53% of all respondents and 46% of families have changed their buying habits, while 50% of families and 40% of all respondents have stopped some spending.
A third (66%) of all respondents and 77% of families said they will have less to spend on their 2023 holiday, and only 31% of all respondents and 18% of families said there will be no change to the price of their holiday.
Paul Hackett, chief executive of Click&Go, which carried out the survey, said: "We understand it is a very tough time for a lot of people and holidays are less of a priority.
"We know people love our €1 holiday deposit and our payment plans. That combined with our competitive pricing will help people get their 2023 holidays booked now, when the best prices are in the market."
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