3 per cent last month, according to Barclays Consumer Spend research. This marks the first decrease in five years as consumers delay trips abroad or opt for staycations amid rising costs and concerns over travel disruption. Consumer behavior is shifting, with trips abroad being delayed or swapped for staycations.
According to Barclays research, 70 per cent of people cited concerns about rising travel costs amid the cost of living crisis, while 57 per cent had concerns surrounding travel disruption amid tensions in the Middle East. Additionally, 11 per cent of consumers surveyed cancelled intended travel plans. 1 per cent in March.
6 per cent less at travel agents year-on-year in March. The research methodology and data source for these findings is the Barclays Consumer Spend research, which combines millions of customer transactions with consumer research from 2,000 UK respondents between 27 and 31 March.