UK: Consumer sentiment improves, but holiday costs remain a concern

Consumers feel better about their finances and are eager to book vacations, but many are waiting for late sales, new PwC research confirms

Nearly 70% will spend the same or more on vacations this year than they will in 2023, while only 18% plan to spend less on travel, according to the survey of 2,000 UK consumers.

Key takeaways

• A quarter of respondents said travel was their top priority. However, when asked to identify the biggest barriers to travel, the largest number - 32% - cited cost;
• Concern about household finances was the next biggest concern, cited by 22% of respondents. Airport delays also ranked third with 10% of consumers, with the same number worried about currency;
• Eleanor Scott, partner at Strategy&, part of the PwC network, said that while affordability was the top issue, disruption was a key factor. "People are worried about getting caught up, and there is a fear of traveling safely with things like wildfires and covid," she said.

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