FIONA REDDAN

Irish holidaymakers will spend € 1,000 on average this year, with almost one in three planning a sun holiday abroad and just 17 per cent opting for a “staycation”.

According to the latest KBC Savings Barometer, almost two thirds of Irish people will take a summer holiday this year, with the survey showing how it pays to save - long-term savers will spend 40 per cent more and regular saving is higher amongst those going on a summer holiday.

“The day of the last-minute offer may not be dead but it is clear that Irish people budget for their holiday well ahead of time. Over 70 per cent of holidaymakers save specifically for their holiday while only 20 per cent plan to use their credit card and a mere 5 per cent intend on taking out a loan to pay for it,” said Dara Deering, head of retail banking at KBC Bank Ireland.

While the average spend might be € 1,000, parents with dependent children plan to spend well over € 1,200, while the outlay for single travellers will be 33 per cent below this.

In general, men will be spend approximately € 300 more on average than women, who will enjoy a more ‘frugal’ holiday of € 858.