By Dale Western on 09 October 2014

Despite the fact that the rest of the world thinks that Brits are remarkably tight-fisted, our new research has shown that British holidaymakers have been big spenders in 2014.

Our survey, which looked at Brits' spending habits, revealed that nearly half of all UK holidaymakers spent between £1,000 and £3,000 on holidays so far this year, with one in five of you spending in excess of £5,000 on your trips. Getting away from the stresses and strains of everyday life and blowing the budget on a gloriously-decadent break seemed to be the norm this year, as only 5% of Brits chose to spend less than £500 on their holiday.

Unsurprisingly, self-catering holidays were preferred, with 33% of holidaymakers decided to cook for themselves. Well, we are a nation of fussy eaters, after all...

All-inclusive holidays were the trip of choice for 20% of the people we spoke to (could this be the limitless booze on offer? Who knows...), and half-board was the third most popular option.

Research conducted by ABTA (Association of British Travel Agents has found that great value, not necessarily the cheapest option, is a key booking factor for 66% of consumers. This could explain why so many 'quality' holidays have been booked this year; people don't mind splashing out, as long as they get value for money.

ABTA also reported an increase in minibreaks, which could explain why over a third of Columbus customers stayed in places with self-catering, choosing to spend their time out exploring the city rather than being tied to their hotel for breakfast, lunch and dinner.

Greg Lawson of Columbus Direct comments: “Our research into what we spend on holidays shows that, whilst there may have been pressure on our disposable income in recent years, we still value taking time out with family and friends.

"Whether it’s the annual summer holiday, a European city break or a staycation, we still see having time away as an essential, not a luxury.

“With so much being spent on our holidays, it is worth remembering that most travel insurance policies will offer cover for cancellation but that the benefit level that it shows is per person. So, if you see a policy that offers £1,000 Cancellation but your family holiday for 4 totals £3,000, then it is likely that the £1,000 limit is sufficient."

How much will you spend on your holidays in 2014?

Holiday Spend

What type of accommodation will you book?

Accommodation 22

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