Despite the fact that many people are struggling with their finances, some even facing debt problems, most are reluctant to pass on their summer holidays. In fact over 90% plan a holiday this year.
Research from British Airways American Express Credit Cards reveals that Britons will collectively spend in excess of £36 billion on getaways in 2012 and only 9% will go without a holiday this year.
Alost 50% of those that will go on holiday will plan months in advance for a ‘major’ trip of a week or longer. Therefore those planning a trip in July or August will imminently be booking it, if they have not already done so!
Some will opt for a ‘staycation‘ but the vast majority will be heading abroad. On average almost a £1,000 will be spent on flights, accommodation and holiday travel money.
Despite many acknowledging the increased costs of holidaying abroad this year, too many fail to make the most of their money and may be missing cost-saving tricks. While almost a quarter of travellers will be paying for their holidays with credit cards, just 3% will use loyalty/rewards points to pay for holidays and even fewer will use rewards/loyalty points in order to enhance their trip by getting upgrades or extras.
Julie Hay, Head of British Airways American Express Credit Cards at American Express, said: “In order to make that holiday budget stretch further, people should be looking at rewards programmes to help mitigate costs.
“One simple way to do this is to use a travel rewards credit card for your everyday spending. This means that, come holiday booking time, you can look forward to a number of extras including companion vouchers, upgrades and discounts to make your holiday even more special and affordable.
“In addition we are seeing a rise in the number of alternative and innovative ways of saving money while on holiday.
“For example, our research found that 47 per cent of UK adults have or would consider a ‘house swap’ holiday; exchanging properties with another person or family either in the UK or abroad, as a way to save money and have a new experience.
“A house swap combined with using Avios points – earned on the British Airways American Express Credit Card – to get a Companion Voucher has the potential to make a family holiday cost significantly less than the average getaway.”
MoneyHighStreet comments: “Planning ahead for your holiday is a great way to ensure you save money where possible. Using loyalty/reward points is a great idea, as is the growing trend to hosue swap.
“There are other ways to save money too.
“For example save on the extras of airport parking, travel insurance and car hire. Check online for voucher codes or special deals.
“Do remember to buy travel insurance.
“As with any insurance do make sure you get the best cover to suit your needs – there’s no point buying the cheapest only to find that should you need to make a claim that you’re not covered. Think about the number of trips you are likely to take in a year and if need be look at buying annual cover.
“Even though most do intend buy travel insurance, many delay doing so until near the time of travel. You should really buy it though at the time you book your trip – our article ‘When should you buy travel insurance‘ explains.”
“You can use a quote comparisons site, such as that from Confused.com or Quotezone.co.uk, to help you compare quotes quickly and easily – it’ll only take a few minutes and yet could save you a lot of money down the line.”
QuoteZone website – www.Quotezone.co.uk
Confused website – www.Confused.com
VoucherCodes website – www.VoucherCodes.co.uk
Key product features and benefits of the British Airways American Express Credit Card include:
- Representative 19.9% APR variable
- 3,000 Avios when you spend £1000 in your first three months of Cardmembership
- Collect one Avios for virtually every £1 you spend
- Spend £20,000 on your Card in a year and redeem your Avios on a British Airways flight and you’ll receive another ticket for a companion for the same flight and cabin. Taxes, fees and charges apply
- Complimentary Additional Cards for your friends and family to help you boost your Avios balance even faster
- Travel Accident Insurance up to £75,000
- No annual fee
- If your Card is lost, damaged or stolen, American Express can get a replacement to you virtually anywhere in the world
- If you’re not an Executive Club Member already, you will automatically be enrolled when you receive your British Airways American Express Card. That means you can collect even more Avios on British Airways flights and holidays, and through other British Airways Executive Club partners such as Tesco; Shell and Avis.