As the summer holiday season approaches, Klarna, the AI-powered payments network and shopping assistant, today reveals new insights from its 2024 travel report. Despite cost of living affecting two-thirds (66%) of Britons travel plans, a significant 96% are gearing up for summer vacations with 81% planning trips abroad and 35% planning to travel somewhere in the UK. This underscores an unwavering commitment to maintaining travel as a priority, but finding ways to keep budgets in check will be top of mind for many.
As Klarna continues to expand into the travel sector, offering its interest-free payment solutions at the checkout of leading travel companies, such as Airbnb, Hotels.com and Booking.com, Klarna looks into the key trends shaping British holiday plans this year.
Slowcations There's a clear preference amongst British travellers to prioritise 'slowcations' this summer, scheduling in some serious rest and relaxation time, where the focus is on unplugging and enjoying their holidays at a leisurely pace.
Relax-away: A significant 78% of travellers say their primary motivation for travelling is to relax. Above everything else, holiday-goers are willing to spend the most on accommodation (68%), ahead of experiences (36%), tourist attractions (30%) and shopping (21%), showing that Brits want to enjoy their comforts away from home, investing in environments they can truly relax in. This motivation to relax is more emphasised among couples and Gen X, with 84% of Gen X and 80% of married couples prioritising it even higher, compared to 71% of Millennials and 69% of those divorced, widowed, or separated.
Decline of Party-Centric Holidays: The days of Brits going abroad to party seems to be dwindling. Less than 10% of British travellers are jetting off with partying as their main agenda, a stark contrast to countries like Spain, Italy and Greece, where the figure exceeds 50%. This is even evident among the younger generations; only 13% of British Millennials prioritise partying, compared to 57% in Greece, 67% in Spain, and 58% in Italy. Similarly, just 22% of British Gen Z travellers consider partying a key priority, against 68% in Greece, 60% in Spain, and 57% in Italy.
Embracing Self Discovery: Almost one in five Brits cite 'self-discovery' as their primary motivation for travelling this year. This trend is particularly prevalent among Millennials, nearly a quarter (24%) of whom indicate they are dedicating their holidays to self-discovery pursuits, signalling a focus on vacations centred around personal growth.
Hobby Holidays While slowcations are at the top of the agenda this summer, hobby holidays are also taking flight. The UK shows a notable preference for experience-driven travel (36%), with Brits willing to spend more money on these than any other European country.
Gig Tripping: Taylor Swift has ignited a new trend - Gig Tripping. With Swifties travelling globally to attend the Eras Tour, her impact has ricocheted throughout the travel-sphere. 43% attending festivals do not let location influence their decision, suggesting that many are willing to travel to see their favourite artists, no matter the distance.
Gourmet Getaways: When asked about their top travel motivations, a significant 55% cited 'to enjoy food' and 40% say dining is what they are willing to spend the most money on. It appears that the UK is a nation of overseas food lovers. Out of all countries, 'enjoying food' was ranked highest by the UK.
Cultural Pursuits: Over a quarter (28%) prioritise the availability of cultural activities when choosing their holiday destinations. This preference for engaging with diverse cultural experiences sets British travellers apart, with a higher proportion emphasising culture than travellers from any other country surveyed.
"The fact that British holiday-goers are either opting for a 'slowcation' or 'hobby holiday' makes total sense to me," says Chelsea Dickenson, founder of the travel site CheapHolidayExpert.com. "After a few rocky years where we couldn't be sure of our travel movements, it's no wonder that many of us are seeking total relaxation, whilst the rest are wanting to make the most of every moment! Both of these trends show just how important travel is for giving us quality downtime and time for our personal interests."
How Brits Travel
Spontaneous Travel: While many Brits plan their holiday's months ahead, there is also a push for spontaneity and flexibility in their travel arrangements. Approximately one in five Brits plan their holidays just a month or less in advance, embracing the freedom of last-minute decisions. Notably, Gen Z leads this trend, with 10% preferring to book their trips merely a week ahead.
Staycations: 35% of Brits will also be holidaying closer to home this summer, opting to explore the beauty and leisure of their own country. This trend highlights the Brits' appreciation for local attractions and the ease of domestic travel.
Family Travel: Is it still cool to hang out with mum and dad? The younger generations are saying yes. 56% of Millennials and 52% of Gen Z are planning on spending their summer holidays with their families this year, in comparison to only 13% and 12% who are planning to go solo.
"Booking last minute travel can sometimes score you a bargain but you do have to be aware of the potential risks!" says Chelsea Dickenson, founder of the travel site CheapHolidayExpert.com. "Savings can be made as travel suppliers reduce prices to fill capacity but you do have to be flexible on where you go and when. This means that if you've got your heart set on a destination or a specific time frame, you could also end up paying more for your summer trip away - or even being left without. For peak travel dates, planning ahead is generally more reliable since it offers a great selection and more favourable deals. You also have more options when it comes to paying, and being able to spread the cost using an interest free payment option, like Klarna's 'Pay in 3', means travellers can secure deals early without needing to pay the full amount upfront."
Other Findings
24% of Gen Z's will look to travel closer to home compared to 16% of Millennials, 21% of Gen X and 13% of Baby Boomers
46% will travel within Europe and 31% will travel further away outside of Europe
Gen-Z are more than three times as likely to spend their vacation with coworkers (2.9%) vs Millennials (0.9%) and Gen X (0.7%).
9% of respondents took their environmental footprint into account and saw it as a factor when choosing their holiday destination
