The UK’s recession stress buster: Brits spend less on food costs to save for holiday
10 December 08
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Authoritative new research released by Visit London and VisitBritain has revealed the opportunities and challenges in persuading Brits to holiday at home during the current economic downturn.
The research shows that while 90 per cent of the population claim they are cutting down on spending, less than half (45%) are planning to cut back on holidays, breaks or day trips. Rather, Britons are planning to reduce the amount spent on lower value, high frequency purchases such as food (80%), fuel (74%), clothes (67%) and entertainment or ‘little luxuries’ (67%).
The research suggests that taking a break is so strongly valued as an important ‘stress-buster’ that it is often the last thing to be sacrificed.
Despite the economic downturn, the research shows that there are opportunities to promote holidays at home if they are thought to be a quality experience at a good value price. For some people, this might mean abandoning their usual holiday overseas, not least because of concerns over the value of current exchange rates against the pound and the dollar:
• Around 20 per cent of those who took a foreign holiday last year plan to save money by choosing the UK instead
• 51% are ‘put off’ travelling abroad by the belief that flight costs are rising
• 36% are concerned about the ‘unpredictability’ of tour operators (following the collapse of XL earlier this year)
The research shows that short breaks abroad are the holiday type most likely to be sacrificed altogether due to the economic downturn, with fewer feeling driven to cut out UK breaks and holidays although there is widespread desire to save money.
Visit London Marketing Director Martine Ainsworth-Wells said:
“Despite undoubtedly tough times ahead, there are still major opportunities to promote the capital across the UK. This is a time to hit the accelerator, not the brake. That is why Visit London has just launched a four-month major programme of activity to sell our message throughout the world, following a £750,000 funding boost from the Mayor.”
Mike Bedingfield, VisitBritain’s Britain marketing director, said:
“As the research shows we are reluctant to give up the holidays that are an increasingly important part of our lives. However, the economic downturn is likely to affect the kinds of holidays we take, whether here in the UK or overseas, and the length of these. Now is the time to be investing in marketing campaigns to remind consumers of the value-for-money experiences they can enjoy through innovative marketing.”
Visit London’s latest campaign comprises a private/public partnership, totaling £3.25 million and includes:
• A promotional push with the New West End Company to encourage shopping over the festive period, in particular supporting VIP [Very Important Pedestrian] Day which took place on 6-7 December when Oxford and Regents Streets closed to traffic.
• A campaign with Superbreak to promote trips by British residents to London, highlighting quality packages at great value rates.
• Joint marketing with several airlines that fly to London from Europe to encourage leisure and business visitors to make the most of the exchange rate by having a value break in the capital.
• A campaign featuring Radisson Edwardian hotels aimed at value-conscious leisure and business visitors from North America, promoting flight offers and highlighting that London provides great value.
VisitBritain’s England marketing division is already planning to launch a value-for-money campaign in the New Year with hundreds of offers and deals on accommodation, attractions and experiences available on its website enjoyengland.com
The campaign, a continuation of the £1.5m value campaign launched in Autumn, aims to encourage people to continue to take short breaks and day visits throughout England and act as a platform for the fantastic value product offerings available throughout the regions. The campaign will consist of:
• High Profile national press and radio advertising highlighting stimulating value offers
• National Radio Advertising
• Online advertising
• A public relations campaign to highlight England’s value for money offering.
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