Personal Finance

Holidaymakers 'hold back spending'

Many Britons going on overseas holidays this year plan to keep their spending in check, new research shows.

M&S Money, which polled more than 2,000 people, said 17% of holidaymakers intend to cut back their outgoings.

The cash savers plan to reduce their spending by an average of £326.

Just over four in 10 people said they expect to spend as much as they did last year.

However, 32% of holidaymakers said they will shell out more money during their holiday abroad in 2011, with one third of them blaming the high cost of living for the additional expenditure.

The average amount of extra cash spent is estimated at £326.

Over two in five said eating out would account for the biggest share of their spending, while one in eight plan to fork out the most for excursions.

Sam Jackson

Money Dashboard