Brits splash less cash on travel
Wed, 01 Mar 2006
Brits are spending more on daily treats rather than luxury purchases such as travel.
Research from online bank Egg reveals that people spend almost £65 million on so-called "daily lifestyle purchases" such as snacks and newspapers – meaning an average spend of £1,380 per person each year.
However, spending on one-off treats like travel is on the decline. With "big ticket" purchases falling by 6.7 per cent, whilst daily spending rose by 3.1 per cent. The average spend on travel is just £1,134 per person, as consumers tend to shop around to ensure they get the best deal on flights or accommodation for their holidays.
"It is fascinating that as consumers we spend more on soft drinks, cigarettes, and snacks as we do on going away on holiday, yet keeping track of this spending is not a priority for most people," said Egg chief executive Mark Nancarrow.
He added: "Whilst we carefully shop around when choosing our holidays, we rarely monitor how and where we spend our daily cash which, ironically, is where the bulk of our spending money goes and where prices appear to be rising." 
© Adfero Ltd
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