Tags: abta, holidaymakers, prepaid travel cards, Prepaid365

British holidaymakers spend as much money before they leave the country as they do while they are abroad, research has revealed.

The Association of British Travel Agents (ABTA) has found that, despite the economic downturn putting a strain on people’s finances, our holiday spending starts before we’ve even left the country.

It was found that British travellers spend an average of £532 each before their holiday, on items such as travel services and holiday products.

A collective £31.2 billion is spent each year by those of us going on holiday, about the same amount which is spent abroad – a collective £31.6 billion.

“Part of the excitement of going away on holiday is about the preparation,” said Victoria Bacon, Head of Communications at ABTA.

“For many holidaymakers, splashing out some of their budget on a new summer wardrobe, buying a few new books and magazines and getting their duty free at the airport are all part of the experience,” she added.

The research found that the biggest pre-holiday expense is clothes and shoes, with many of us splashing out on a holiday wardrobe before go.

Holiday clothing accounts for 1.83 billion each year, which is closely followed by duty free spending in the airport, at £1.77 billion.

Other big expenses include cameras and other digital accessories, with Brits spending an average of £759 million. This is followed by spending on magazines and books at £543 million, and toiletries and pharmaceuticals at £529 million.

“Add to this all of the jobs that are supported in travel agents, at airports and in shops and it is clear that the outbound travel sector makes a very important contribution to the UK economy,” said Ms Bacon.

“This demonstrates conclusively that going abroad on holiday is good for British business,” she added.

ABTA used the research to put forward the case for an end to Air Passenger Duty (APD), which it said is destroying the British aviation industry.

“For too long it has been assumed that by going abroad on holiday, money is being taken out of the UK economy,” said Mark Tanzer, ABTA Chief Executive.

“This report proves conclusively that the foreign holiday market makes a huge contribution to the UK economy and is an essential component of a healthy and dynamic UK economy.”

If you are planning a trip abroad this summer, the chances are you’ll be doing some pre-holiday spending. But you can keep costs down while abroad by using a prepaid travel money card such as Caxton FX, Fair FX and  myTravel Cash to name a few.

By using a prepaid card, you’ll be able to avoid expensive bank fee while abroad and also benefit from a good exchange rate.