Staycation boom from Brexit could keep the economy going

Sarah Coles
·2-min read
Wimbledon 2016 - Day Two - The All England Lawn Tennis and Croquet Club
Wimbledon 2016 - Day Two - The All England Lawn Tennis and Croquet Club

This could be the summer of the staycation. Brits have been persuaded by a unique combination of factors, that they are better off staying closer to home for their holiday this year. It might not be the best news for sun-worshippers, but it could be just what the economy needs.

Research by Policy Expert found that 84% of people will be making UK trips this summer. Some 46% said it was easier than going overseas, some 28% saved money on accommodation by visiting family and friends, and 11% said they were too worried by the threat of terrorism to risk going abroad.

It's also safe to assume that the fall in the value of the pound holds some of the blame, given that TravelSupermarket has calculated that the average holiday for a family of four is now £245 more expensive than before the country voted to leave the EU - because of currency movements.

Then there were those who had planned a trip abroad with Lowcostholidays, who are unlikely to be able to afford a second overseas booking, and will have to spend the two weeks they booked off closer to home.

The upside

Fortunately, the Policy Expert research showed that 60% were reasonably happy about the prospect of a staycation, on the grounds that there are plenty of great places to visit in the UK. The most popular destination for a break was the South West, followed by Wales, Yorkshire, and the Humber and Scotland.

The most popular choice for a break is the seaside, followed by day trips, city breaks, and caravanning. Bizarrely the next most popular type of staycation is simply taking time off to spend on the sofa.

This is music to the ears of anyone in the tourist industry, as bookings of hotels, caravan parks and campsites across the country have boomed. In popular locations, the local economy is also likely to benefit, as people spend around a fifth of their disposable cash on their holidays, so are likely to be prepared to splash the cash on meals out and entertainment.

Asda Money estimates that people on staycations will put £8 billion back into the UK economy over the summer

Plus there's the added advantage, while you stare out of your tent at a rain-sodden campsite, you can be sure that you're building character - which is bound to come as a huge consolation to the whole of your family.

5 Tips for the Perfect Staycation
5 Tips for the Perfect Staycation