Asda Financial Services

Asda Financial Services

June 06, 2012 13:42 ET

Petrol, Pasties and Parasols: Economic Worries Will Force Brits to Think Twice About Holidays in 2012

Leading finance website Asda Finance claims that more Brits will cancel their holiday plans this year in order to save cash amid fears about the economy.

LONDON, UNITED KINGDOM--(Marketwire - June 6, 2012) - With the economy still not performing well, price rises and growing worries over jobs, Asda Finance predicts that in 2012, more and more Brits will stop taking holidays all together in order to save money.

Asda Finance research conducted in December 2011 into consumer habits on travel found that nearly 2 in 5 Brits (39.67%) took a holiday once per year in 2011. The same research found that 1 in 5 (21.92%) never take a holiday.

While just under 40% of Brits ventured overseas last year, the numbers could fall further as the cost of living takes its toll on the nation.

Brits looking for a holiday might opt for a staycation, however, as money becomes scarce a number of people might cancel their holiday altogether.

The government's recent budget was potentially going to hit food lovers hard with a proposed tax on pasties.* This now looks like it has been revoked, but motorists are still being driven off the roads by an increase in fuel duty of 4p.

As the economic outlook is set to remain bleak and unemployment is expected to rise**, it might come as no surprise that the number of people deciding against a holiday could increase.

Asda Finance believes that over the year the figure could rise to one in four people will never take a holiday. The number of people who go on holiday twice a year (23.79%) could also fall as purse strings become tighter. If you are going on holiday in the UK this year or are even just going away for the weekend an Asda Annual Travel Insurance policy will provide you and your family with cover for any pre-booked trips of two nights or more.

Recent reports show that 40% of Brits are reducing the number of holidays they plan to take because of worries about the economy.***

Those booking a holiday may wish to consider travel insurance for their trip.

Notes for editors

Asda Finance research shows that beach holidays appeal to 62.8%; 46.89% are in favour of a countryside break when booking a holiday. City Breaks appeal to 44.5% of those surveyed; cruises to 25.07%; adventure breaks (i.e. walking, climbing, water sports, etc) to 13.97%; Green/wildlife breaks to 13.68%; Coach / ferry trips to 13.11%; Ski / Snowboarding to 5.84%; and Backpacking breaks to 3.83% (11.77% expressed another travel requirement).

How often do you holiday? Asda Finance eSurvey Data, December 2011:

  • Once a year 39.67%
  • Twice a year 23.79%
  • 3-4 times a year 11.35%
  • 4-6 times a year 2.34%
  • 7 or more times a year 0.94%
  • Never 21.92%

*BBC News - Pasty tax U-Turn a Shambles:

**BBC News report on unemployment figures:

***Daily Telegraph reports that four in 10 people are taking fewer holidays than in previous years because of economic concerns and the current job market.

About Asda Travel Insurance

Asda Travel Insurance is sold and underwritten by ACE European Group Ltd, a leading global insurer protecting over 7 million people in the UK.

  • Unlimited medical expenses
  • 20% online discount
  • Single Trip or Annual Holiday Insurance
  • A choice of 3 cover levels
  • Worldwide or European Travel Insurance

Asda Financial Services Ltd is an Introducer Appointed Representative of ACE European Group Ltd. This means that Asda Travel Insurance policies are sold, administered and underwritten by ACE European Group Ltd who is Authorised and Regulated by the Financial Services Authority (FSA), reference number FRN 202803. Full details can be found on the FSA's Register by visiting or by contacting the FSA on 0845 606 1234.

Contact Information

  • Asda Financial Services