LV= reveals Brits to save £3 billion by holidaying in the
on: April 15, 2009, 3:59 am
Author: Emma Holyer
research from travel insurer LV= has shown that a quarter of UK
adults plan to take their main holiday in the UK this year, whilst
a further 15% say they do not intend to have a 'main' holiday
this year at all.
five million adults who are taking a UK holiday this year (40%)
put their decision down to financial concerns, with 16% admitting
they cannot afford to go abroad, 13% blamed unfavourable exchange
rates, and 11% simply said that a holiday in this country will
be cheaper. These concerns have affected Londoners by far the
most; with 59% of those holidaying in the UK saying that financial
factors led to their decision.
average, those staying in the UK estimate they will spend £477
per week on their holiday. This compares to those going abroad
who think they will spend £728; meaning that the UK holidaymakers
will be saving on average £247 each, leading to a UK wide
saving of just under £3 billion on holidays in 2009*.
Holyer, spokesperson for LV=
travel insurance, commented: "It's not surprising that
many more people are looking to take their main holiday in the
UK this year. The sliding value of the pound, particularly compared
with the Euro and US dollars, plus the overall economic climate,
have made holidaymakers think twice about spending their hard-earned
wages on a trip abroad."
LV= research** has indicated that more than five million Brits
are planning to cut back on one or more insurance policies this
year, with 22% of these looking at cutting a travel
insurance policy. These new figures show that 59% of those
holidaying in the UK do not intend to take out any form of insurance
cover for their break.
Holyer continued: "It is important that these people remember
that even though they are staying in this country, travel
insurance is still important. It will help to ensure that
they don't end up out of pocket if they have a problem with their
transport arrangements, such as missing their train, plane or
bus, or if their belongings go missing. In addition, if customers
have to cut short their holiday or cancel for any reason, insurance
will mean they can claim back some of the costs."
Notes to editors:
research (unless otherwise specified) carried out by Opinium Research.
2,214 online interviews were carried out from 5-9 March 2009.
25% of UK adults who are taking a holiday in the UK multiplied
by average £247 saving = £2,964,000,000 ** Research
carried out by Opinium Research. A survey of 2,141 people took
place between 16-20 Jan 2009.
LV= offers car, home, travel and pet insurance direct to consumers
by telephone from its UK call centres in Bournemouth and Croydon
and online from its website. LV= has been awarded the Defaqto
five star rating for home insurance and car insurance. LV= insures
over 1.6 million cars and 480,000 households in the UK.
is a registered trade mark of Liverpool Victoria Friendly Society
Limited (LVFS) and a trading style of the Liverpool Victoria group
of companies. The new LV= brand identity was launched in March
employs over 3,800 people, serves around 3.2 million customers
and members, and manages around £7 billion on their behalf.
We are also the UK’s largest friendly society (Association
of Friendly Societies Key Statistics 2008, total net assets) and
a leading mutual financial services provider.
is authorised and regulated by the Financial Services Authority
register number 110035. LVFS is a member of the ABI, AMI, AFS
and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.
further information please contact:
69 Park Lane
0208 256 6714