A new report from TopCashBack has revealed that 70% of Brits are planning to travel abroad or staycation and almost half are willing to give up on luxuries to get there.

Almost a third are willing to forego house renovations, 22% are no longer buying a new car, and 7% are willing to delay purchasing a house in order to make their holiday happen. Planned staycations are at 52%, up from 48% in 2022. This increase is a result of those looking to add a staycation to their holiday abroad.

Record flights booked

A record number of summer flights have been booked with EasyJet and it expects to facilitate around 1,000 daily flights between July and September. This is an increase of 8% from pre-pandemic numbers.

Nearly two-thirds of  holidaymakers have indicated that the cost of living will impact their plans but they are still willing to sacrifice and adapt to make their holidays happen with 26% travelling outside of school holidays or 7% booking indirect flights.

Adam Bullock, UK director of TopCashback, said: “Our research clearly shows that holidays continue to be a priority for many Brits, despite the ongoing financial pressures. This may seem counterintuitive, but when you consider that we’ve had months of covid restrictions followed by the cost-of-living crisis – it’s understandable why people may feel like it’s now or never.”

He added: “The research also showed that people are trying to make savings wherever they can, with as many as one in six saying they make use of cashback websites when booking their holiday. This is certainly a trend that we’ve seen on our website too, as overall demand for cashback on holidays has experienced a steady increase this year compared to last.”

Meanwhile, Mat Megens, personal finance expert and founder of budgeting app HyperJar, has provided some  simple tips to help those traveling save money.

Four ways to save on holidays abroad

Cut out additional spending fees

Choose a card that doesn’t charge for your spending abroad. Standard bank cards will charge unnecessarily high fees. Some digital banks also charge for weekend spending which is the most common times that customers will check in and out of hotels.

Alternative accommodation

House swapping as an alternative method of accommodation which involves exchanging places with another family somewhere else in the world. You could save thousands on sunny destination swaps in places such as Cuba, the Maldives, or Turkey which could be more affordable than tourist hotspots in Europe.

Missed vouchers and price comparison sites

Scan your inbox for any vouchers you may have missed during the pandemic due to cancelled trips – hundreds of millions of pounds remain unspent from companies such as British Airways and Easyjet and they may still be valid.

Travel together

Traveling with others can help you get more for your money abroad. Going with a group if you are single means you can all contribute to accommodation and experiences. Split the cost and save.