Key Data, the exclusive data partner of the Vacation Rental Management Association, previously reported how reservations for UK holidays for the whole of 2023 were up 19% on last year, following analysis of the all-important January booking season.
LONDON – Summer holidays in the UK have shrunk nearly 4% as the cost of living crunch weighs on what holidaymakers can afford, holiday rental specialist Key Data can reveal.
The average length of a summer holiday has dropped to 4.9 days, the company’s analysis shows, while the average cost per night is down 1% at £198.1
But Brits are faring far better than their American cousins — the average summer holiday in the US has shortened by 7%, although the average booking is still marginally longer at 5.3 days.
Key Data, the exclusive data partner of the Vacation Rental Management Association, previously reported how reservations for UK holidays for the whole of 2023 were up 19% on last year, following analysis of the all-important January booking season.2
Rising inflation and squeezed household budgets have put immense pressure on disposable income worldwide but we could see this trend reverse when inflation returns to normal levels.
Melanie Brown, Executive Director of Data Insights at Key Data, said: “Inflation is playing havoc with disposable incomes but many Brits see their summer holidays as sacrosanct. They’ll move heaven and earth to protect them but the cost of living crisis is clearly forcing some to trim the length of their getaway to come in under budget.”
1 Average length of stay and average cost per night across all property types for stays in July & August 2023 vs July & August 2022, from bookings made between January 1 and February 6 for both years. Data sourced 7 February 2023.
2 Data sourced on 22 January 2023 from bookings made on Airbnb and Vrbo.
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She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
