The total was up by a steady two per cent on the previous year, with higher spending expected this summer despite ongoing economic woes.
Three in 10 people surveyed said they are planning to holiday abroad in June or September, allowing them to remain in the UK for the Olympic Games in July and August.
“UK holidaymakers are planning to spend an average of £3,890 on their overseas breaks in 2012, an increase of more than £300 from 2011,” the report said.
Spain remains the most attractive getaway, with British sun-seekers injecting £1.8bn into the troubled Eurozone economy in 2011.
British travellers also spent £1bn or more in France and the US. The top five list of most popular destinations is completed by Italy and Australia.
Accommodation is the largest expense, followed by travel costs.