Hordes of Britons have axed plans to go on holiday this year because the cost-of-living crisis means they can’t afford the cost of a getaway, according to a new study. More than a third of all families will give up their annual trip as they struggle to cope with soaring energy bills, the cost of filling the car, and the rising price of groceries.
Research by consumer group Nous.co found that out of those who could afford a break, a quarter had chosen a cheaper option than usual, and another 25 per cent had ditched a foreign trip to the sun and opted to stay at home instead. The cost-of-living crisis is still the major factor for most when it comes to missing out on foreign holidays - more so than the ongoing problems with air travel.
Nous.co is a new service that helps households stay vigilant as they face the rising cost of living. Single mum Emma Andrew, 36, from Bromley, Kent, said: "We were desperate to get away to the sun this year after all the Covid restrictions, but the rising cost of everything means we just can't afford it.
"We were so looking forward to going to Spain, but instead we're borrowing a tent and going camping instead. We won't go too far either because of the cost of petrol. I'm so sad that - despite working two jobs in welfare support and part time charity work in the community - I can't take my 15-year-old son away.
"I have the Nous app on my phone so at least I can keep track of my outgoings and know just how much they are going to rise in the next few months. It means I can make the best choices to keep solvent, even if it means kicking Spain into touch.”
Families also revealed that the financial crisis has forced them to give up luxuries including takeaways, trips to the cinema, and buying new clothes to make ends meet. Two thirds of the 2,000 people in the Nous research say they are cutting down on takeaways, eating out and buying clothes. And almost half say they they’ll go to the pub, cinema and theatre less, while two in five say they are planning to shop more at discount supermarkets like Aldi and Lidl.
Nous chief executive and founder, Greg Marsh, said: “It's sad that people are having to cut back on their well-deserved annual holidays. We're proud to be providing a service to help households keep track of their finances, enabling them to get the best deal on everything they can.
“If they know exactly how their personal cost of living will increase, they can budget accordingly – even if it means making sacrifices."
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