Brits are being a little too flash with the cash as they visit sin city, being voted as the ‘overspend capital.’
A new survey has found that Brits admit to over spending whilst holidaying, with 57% revealing that they ‘get caught up in the excitement’.
Paris and New York were among the popular places to shop til’ you drop. However, 6% of Brits admitted to returning home early after running out of finances abroad.
The research carried out by www.vouchercloud.com found the reasons as to why Brits overspend while away. 33% said that they ‘had not budgeted well’ for their trip.
Those who had overspent said they were most likely to blow the budget on ‘activities and experiences’ (42%), ‘souvenirs’ (31%) and ‘food and drinks’ (11%).
Too pay for all the unexpected gifts and activities, 45% of Brits had to draw more money out of the bank, incurring bank charges. While a further 32% said that they had been forced to put items on their credit cards with 20% asking for help from family and friends back home.
Destinations most likely to overspend:
Las Vegas, U.S.A. – 63%
Paris, France – 57%
New York, U.S.A – 52%
Venice, Italy – 46%
Ibiza, Spain – 32%
Matthew Wood of vouchercloud.com made the following comments:
“It’s easy to see why people overspend on holiday. You’re often caught in the moment and just want to enjoy yourself, leaving all the financial constraints and worries at home. Plus, in the back of your mind, you know that you may only get one chance to see, do and buy these things; you might never go back to that destination again!”
He added: “The best way to get round this, which is often overlooked during the planning process, is to do a bit more research into what the destination and local area has to offer before you step foot anywhere near a plane. There is plenty of information on the net and in travel guides, which will mean you can budget effectively with a level head and avoid any unexpected expenditure whilst enjoying your holiday.”
For more information visit: www.vouchercloud.com