PayPal study: 79% of people in Ireland are making daily cutbacks to prioritise travel

PayPal’s new Travel Check-in report reveals the latest trends in the world of travel, as 85 per cent of Irish consumers either have or are planning to book a holiday for 2023 and almost a third (29%) are set to go on more than two holidays this year.

The research, carried out by Censuswide and involving more than 1,000 consumers across Ireland, found travel remains a priority for 62 per cent of people. While 64 per cent are looking to make up for lost travel time over the last couple of years, the high cost-of-living isn’t going unnoticed, with eight in ten (83%) being willing to adapt travel plans to be more cost-effective rather than cancel and more than three quarters (79%) looking to save money in their daily lives to prioritise travel/holidays.

Where are people headed for their vacations? Eight out of ten (81%) are planning to leave the Emerald Isles for their holidays. The most popular international destination picked was Spain (including Majorca, Menorca and Ibiza) (30%), followed by the UK (20%), Italy (16%) and France (16%). For those planning to stay closer to home, the top destinations within Ireland were Galway (22%), Cork (20%), Donegal (20%) and Dublin (20%).

Trips involving quality time with loved ones are high on the agenda for 71 per cent, with other popular trip types including enjoying the outdoors (40%), experiencing a different culture (29%) and focusing on health and wellness (20%) – this was important for almost a quarter of millennials (23% vs 20% general population). Gen Z were most open to ‘bleisure trips’ (mixing work and leisure) to enjoy more flexibility during their time off (12% vs 6% general population).

The average estimated spend on holidays for the year (including booking and all in travel costs) came in at approximately €2,320. The biggest spenders were from Clare (approx. €2,834), Cork (approx. €2,579) and Donegal (approx. €2,577).

“At PayPal, we’re seeing a surge in travel bookings and it’s encouraging to see that Irish people are being mindful of their budgets when it comes to being able to better afford that long-awaited trip,” said Maeve Dorman, Senior Vice President, PayPal. “We’re here to help Irish holiday goers make the most of their trip by providing peace of mind and simplicity for a seamless checkout from the moment they book flights, trains and accommodation all the way to after they’ve checked-in and are looking for local experiences and ticking off bucket lists.”

Check-out five tactics Irish holidaymakers are utilising to better afford travel this year:

• Daily changes for weeks away: More than three quarters (79%) of consumers in Ireland are looking to save money in their daily lives to prioritise travel/holidays this year. The top cutbacks are cooking at home instead of getting a takeaway or eating out (58%), cutting back on nights out (50%), and making their own coffee at home instead of going to a coffee shop (42%).

• Being savvy for sun, sea and… savings: The money-saving mindset doesn’t stop when it comes to booking with many using money-saving techniques to get the best price, including looking for discounts (53%), travelling on days when costs are cheaper (38%) and signing up for offers (26%).

• Adapting for adventures: Some 83 per cent of people are willing to adapt their travel plans to be more cost-effective rather than cancel completely, be that looking for budget accommodation (29%), having just one main holiday (23%) or going on shorter trips (22%).
• Planning perfection: Eight in ten (78%) would rather book in advance to guarantee a price than take a risk on getting a better price closer to the time. Those from Leitrim are the most organised, booking nine months before their break, while those from Clare tend to book three months ahead of time.
• Smart budgeting in the sun: Almost three quarters (73%) of consumers plan to adopt a saving approach on holidays, as opposed to splurging. In terms of other budgeting behaviours, over half (52%) will go cashless and 67 per cent of people will book everything in advance, instead of going with the flow. The most cited challenges/concerns for people when managing their budget on holiday, being able to track their spending ranks highest (46%), followed by fears of being scammed (37%) and security of funds (25%).

To learn more about how PayPal can be the perfect travel companion, visit paypal.com/ie.

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