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Thursday, September 21, 2023

Nearly half of people changing holiday plans due to cost-of-living crisis, survey finds

Almost half of people plan to holiday differently this year because of the cost-of-living crisis, according to survey from MyHome.ie.

Of those who are only planning one main holiday this year, just a third (34 per cent) plan to take it in Ireland, while over six in 10 (63 per cent) said holidaying abroad this year represents better value than holidaying in Ireland.

Four in 10 (39 per cent) said they have had to change their holiday accommodation plans because of financial restraints, while 77 per cent and 72 per cent believe hotel prices and holiday home prices in Ireland, respectively, are more expensive now compared with previous years.

Nearly half (46 per cent) said they would rather rent a holiday home in Ireland than stay in a hotel.

According to the survey, Kerry, Galway and Donegal are the top three counties in which to holiday.

Speaking about the survey, Joanne Geary, managing director of MyHome.ie, said: “The cost of living crisis has had a significant impact on people for the past year, and now we are seeing that effect on the holiday market.

“It is clear that many people feel priced out of the Irish holiday market this year, and many of them have had to adapt and be flexible in order to get a much-needed break.”

She added a significant cohort of respondents said they had to change their holiday accommodation plans this year because of financial constraints.

“Almost half of respondents (46 per cent) in this survey told us that they would rather rent a holiday home in Ireland than stay in a hotel.

“This corresponds with what we see on MyHome.ie, with an overall 36 per cent rise in the number of enquiries for holiday homes listings both at home and abroad in the first five months of this year compared to the same period in 2022.”

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