Staycation spending on the up as Britons opt for home-bound holidays

 
Francesca Washtell
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The Great British Seaside - Weston-Super-Mare
Ice cream and buckets and spades aplenty (Source: Getty)

Domestic holidaymakers are shelling out more on their UK staycations, new research from Barclays Business shows.

The average spend on trips in the UK has grown six per cent in the last year to £22.1bn, at £613 per party, up from £575 in 2015.

Londoners were willing to fork out more to stay in the UK, spending on average £701 per group.

Men were also found to be spending 14 per cent more than women at £657, while those aged 55 and over spent £684.

Small to medium enterprises in the hospitality sector were lifted by the trend, to the tune of 6.4 per cent growth year-on-year.

Read more: This seaside resort benefited the most from the summer staycation boom

Seven in 10 British adults have been on or are planning a staycation, Barclays found.

Adam Rowe, head of business banking at Barclays, said:

Britons are opting to spend their leisure time on UK shores and in turn it is boosting the takings of business in the tourism sector. With a weaker pound, UK SMEs are also likely to see a rise in overseas holidaymakers coming to the UK.

With people spending more money on their ‘Great British Getaway’, this in turn presents a huge opportunity for business owners and the tourism industry to capitalise on the rise in domestic tourism. There is welcome growth for UK accommodation and food sectors who have adapted around seasonal volatility and come out fighting.

As a trend, staycations have already been on the rise for several years. In 2015, less than half of people in the UK were due to travel to other countries, instead choosing to holiday at home in Britain's milder climes.

The domestic tourism sector has also been pegged as one of the first segments of the economy to benefit from the Brexit vote, according to Begbies Traynor.

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