Britons 'spend billions abroad'
British leisure travellers are spending billions of pounds in other countries, according to new figures.
Research by Alliance & Leicester found that more than £23 billion was spent by people from the UK while overseas last year.
For example, a single visitor to Central and South America was said to be likely to spend about £1,193 during their stay.
The average length of a stay in the region was found to be 28 days, which means that a family of four could spend more than £4,772 over this period.
Figures also showed that the average cost of a holiday abroad was £514 per person, which works out to over £2,000 for a typical family.
Richard Al-Dabbagh, manager of Alliance & Leicester Personal Loans, commented: "Holidays are meant to be a time of enjoyment but often the cost of going abroad, especially for a family, can be quite substantial."
However, he said the impact could be negated if people budgeted carefully.
According to Fool.co.uk, British consumers spend longer planning their holiday than other financial matters, such as getting a mortgage.
< Back to latest news