British people plan to spend about £2.6bn on trips over the August bank holiday, research suggests.
A survey of 2,000 UK adults, by card company American Express, found that a fifth of Brits are planning to make the most of the long weekend ending 26 August by taking a holiday.
While 7% are going abroad, 13% are “staycationing” – preferring to take a trip in the UK, the survey found.
With those who are jetting away spending about £280 each, and those off on a domestic trip spending about £235 each, Brits will spend a total of about £2,628,027,745.
Accommodation is the largest expense for all holiday-makers. However, those going will pay slightly more than those staying – about £70 compared with £65.
Those heading oversees will also spend more on travel, at about £69, compared with just £44 for those who stay in the UK.
They’ll even spend more on their vacation wardrobe, the study found. Those going abroad are set to spend about £34, compared with the £22 being spent by those staying.
Meanwhile, Brits choosing to stay at home instead of going on holiday will spend an estimated £76 over the long weekend on popular activities such as shopping (43%), eating out (39%) and going for drinks (38%).
American Express also offered some top tips for saving money this 26 August.
How to cut costs this bank holiday
1. Book breaks early – Consider signing up to travel company emails so that last minute deals are delivered straight to your inbox.
2. Go sales shopping – If there’s an item of clothing or a special gadget on your wish list, look out for seasonal sales.
3. Make the most of the sun – Weather permitting, barbecues are a great way of feeding hungry guests while keeping costs in check.
4. Arrange in advance – Doing your homework and booking early means you could find free events or special discounted entry to places of interest for you and the whole family
5. Redeem points or rewards – If you have a credit card that offers rewards, check to see if you can redeem them to help pay for your flights, hotels or for items you need for your trip.