![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/25\/590x\/secondary\/5027519.jpg?r=1698055307001\")
<\/p>\n<\/p>\n
Holiday budgets have risen by 10 percent this year as spending on getaways bounces back, research has found. A poll of 2,000 adults found they are typically willing to spend \u00a31,015 in 2023, up from \u00a3927 last year.<\/p>\n
The study also revealed how the economic climate has changed booking habits for 64 percent, with one in four looking to travel outside of peak season. October and November are now the top choices for those looking to avoid the highest prices.<\/p>\n
The research was commissioned by HSBC UK, to mark the launch of a new cash offer for new customers opening both a current account, and a Global Money account.<\/p>\n
Simon Calder, travel journalist and broadcaster, said: \u201cThis surge shows the insatiable appetite for travel. The last few years have been very difficult for many reasons \u2013 but we are now seeing more people willing to invest in enriching experiences.<\/p>\n
\u201cOur appreciation of travel has intensified after the pandemic \u2013 as the saying goes, you don\u2019t know what you\u2019ve got till it\u2019s gone.<\/p>\n
\u201cThe desire to create lasting memories is prompting individuals and families to prioritise holidays \u2013 and specifically, to seek out activities, local cuisine, and culturally immersive tours.<\/p>\n
\u201cBut while this is happening, costs are still on holidaymakers\u2019 minds \u2013 as many are strategically ditching the summer months in favour of October and November.<\/p>\n
\u201cI will be travelling extensively in Europe over the next few weeks. In the southern Mediterranean, the sun is still shining and the sea is warm. The crowds have vanished, and the prices are dwindling too.<\/p>\n
\u201cBy opting for travel during the autumn, you can enjoy the last of the summer sunshine in the south \u2013 and, in the poetry of John Keats, the \u201cseason of mists and mellow fruitfulness\u201d in the north. And all without breaking the bank.\u201d<\/p>\n
![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/25\/590x\/secondary\/5027521.jpg?r=1698055307062\")
<\/p>\n
The HSBC UK research also revealed the number of people holidaying at home has dropped by 21 percent compared with last year \u2013 as one in three (32 percent) are aiming to find a cheaper holiday abroad.<\/p>\n
The most important factor for those travelling last year was their trip offering value for money \u2013 but this has now been replaced by chasing the weather.<\/p>\n
However, while many are still choosing cheaper getaways abroad, the bank warns about fees when spending overseas with debit cards.<\/p>\n
Many mainstream debit cards charge a transaction fee of between 2.75 percent and 2.99 percent on spending abroad \u2013 meaning that, by spending \u20ac1,000, travellers could be charged up to \u00a325 in fees.<\/p>\n
And using a debit card to withdraw cash overseas also typically comes with a cash handling fee of around two percent, or a minimum of \u00a33 \u2013 so using a cash machine five times while in Europe, withdrawing \u20ac200 a time, the fees would total around \u00a342.<\/p>\n
Pella Frost, head of everyday banking at HSBC UK, said: \u201cWe designed Global Money to make spending overseas simple, quick, and straightforward for our customers.<\/p>\n
\u201cIt helps customers avoid unexpected costs, and makes it easy to plan and stick to a holiday budget. Customers can manage their spending easily through the app, so they can spend more time enjoying their holiday.\u201d<\/p>\n