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BRITONS PLAN BIG SPEND ON LONG HAUL HOLIDAYS

PROVIDING A BOOST FOR THE TRAVEL INDUSTRY
www.visaholidaymoney.com

London, 9 July, 2002One in five people in Britain are planning to travel to a long haul destination for their holiday this year at an average cost of £1,656 per person, according to new research conducted by Visa UK¹, which also found that:

• Nearly a fifth (17%) of those travelling long haul will purchase their holiday online, whilst over a third (36%) will go to traditional travel agents.
  
• Half of holidays will be booked 2-6 months ahead, with half of the remainder (27%) being booked a few weeks in advance or at the last minute.
  
• 37% of people will pay for their holiday with a credit card and pay back their bill in full when it arrives, a further 19% will also pay on their credit card, but will choose to pay back the balance over time. Nearly a quarter (23%) plan to pay using a debit card.

Marc O'Brien, Vice President of Visa UK commented, "Our research clearly shows that holidaymakers favour Visa cards as the most convenient means of paying for their trip. A Visa card is also an essential item to take away on holiday to obtain local currency at low cost from the cash machine network, as well as for everyday purchases or in case of emergency."

When it comes to splashing out on a holiday, men will spend on average nearly £200 more than women and 45-54 year olds will spend more than any other age group. People without the responsibility of children will, perhaps not surprisingly, spend more than people with children. However married people will spend more than single people.

Average spend - £1,656
Men - £1,740
Women - £1,553
Married - £1,739
Single - £1,454
Children - £1,551
No Children - £1,691
North - £1,645
Midlands - £1,881
South - £1,565
16-34s - £1,474
35-44s - £1,742
45-54s - £1,859
Over 55s - £1,747

Online booking booming
Whilst over a third (36%) of people will book their holiday in the next 12 months via a local travel agent, nearly one fifth (17%) will browse and book online. A further 7% will browse online and book with a "bricks and mortar" travel agent. Women are more likely to book online than men (19% compared to 14%), whereas men are more likely to book via a travel agent (38% compared to 33%). Internet savvy 16-34 year olds are the most likely age group to book online. 14% of Britons plan to book their holiday through a specialist travel operator and 5% of people will arrange their holiday themselves directly with the airline and the hotel.

Planning ahead
The British clearly still prefer the reassurance of planning their holidays well in advance, as half of respondents in Visa UK's research said they will book their holiday between 2 and 6 months ahead, especially the 16-34 age group. However, over a quarter will leave it later to book, as 19% of respondents said they will book only a few weeks in advance with 8% booking at the very last minute, in the hope of getting a bargain. Surprisingly, it's not the youngest age group who are carefree enough to book their holiday at the last minute, but the 35-44 year olds.

Taking the credit
When it comes to footing the bill 37% of people will pay for their holiday with a credit card and pay back their bill in full when it arrives. A further 19% will also pay on their credit card, but will choose to pay back the balance over time. Other payment trends to emerge include:

• Women are more likely to pay their credit card when the bill in full when it arrives, whereas men are more likely to borrow on theirs.
• 23% will save up in advance of their holiday and pay with a debit card, particularly 16-34 year olds.
• Single people are more likely to pay with a debit card or with cash.
• Married or co-habiting partners are more likely to pay with a credit card.

When it comes to the duration of their long haul break, most people (41%) will take a two week holiday. However, not surprisingly, only 5% of people traveling long haul are prepared to do so for only a week. A fifth (22%) will take three weeks and a lucky 15% of people will go for 1-2 months.

Long haul travellers wanting further information can visit www.visaholidaymoney.com.

-Ends-

Visa Travel Tips

• Treat card(s) and travellers cheques as carefully as cash.
• Do not keep all methods of payment - cards, cheques, cash - in the same place.
• In crowded places, hold bags or wallets close to the body, and use a money belt if possible.
• Consider using a safety deposit facility if available.
• Regularly check the whereabouts of card(s) and travellers cheques.
• When travelling by car, don't leave valuables where they can be seen - keep them with you.
• When travelling to and from any holiday destination, do not store money, card(s) and travellers cheques in your luggage - keep them with you.
• Take relevant emergency contact numbers, in case of lost / stolen cards.
• Take contact details of relevant embassies, high commissions and consulates, in case of problems.
• Make sure your card is always in view when paying for goods or services.
• Check that all the information on the sales voucher is correct.
• Keep a copy of all sales vouchers in order to check them against your statement.
• Remember to memorise your PIN (Personal Identification Number) if you plan to withdraw cash from ATMs (cash machines) when abroad.
• Take care when using ATMs, make sure that no one attempts to discover the PIN.
• Pack a calculator to help with currency conversions

Note To Editors:

¹About Visa UK's research
Research was conducted on behalf of Visa by Taylor Nelson Sofres between 24-26 May and 31 May - 2 June 2002. 2016 adults aged 16+ were interviewed. Interviews were conducted by telephone. The sample was weighted to represent the adult population of Great Britain aged 16+.

About Visa International
Visa is the world's leading payment brand. Visa-branded cards generate more than US$2 trillion in annual volume and are accepted at more than 24 million physical locations around the world, including more than 750,000 ATMs. The Visa organization plays a pivotal role in developing innovative payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce - the ability to conduct commerce anywhere, anytime, and any way. For more information, visit www.corporate.visa.com

Contact
Roz Barder, Visa EU Tel: 020 7795 5336 barderr@visa.com
Sarah Bailey/Siobhan Gilheany, Fishburn Hedges Tel: 020 7544 3077/3132
Sarah.bailey@fishburn-hedges.co.uk
Siobhan.gilheany@fishburn-hedges.co.uk

The Visa EU press office only deals with media enquiries relating to the organization's activities in the region. Journalists should email: eumedia@visa.com