The Changing Prospects for Holiday Lets

By : Jean Errington, Business Development Manager, Harpenden Building Society

As awareness grows over the need to reduce carbon emissions, along with the reduction in the number of airlines operating after the Covid-19 crisis, holiday patterns are changing.
According to VisitBritain, domestic breaks already account for almost 80% of tourism in the UK, with about £72bn spent annually by ‘staycationers’ in England alone. 35 million overnight holidays were taken between July 2018 and July 2019, up 2% on the previous twelve months. Coronavirus is likely to mean that many more people will take their holidays in Britain this year, and in the years to come

If travelling abroad becomes expensive and painfully slow due to extra checks, might we decide on longer, less frequent holidays, closer to home? Are the European weekend city breaks a thing of the past? Will more Europeans decide to visit the UK if the exchange rate remains favourable? We obviously don’t know for sure and, while the world is unlikely to be turned on its head, this unprecedented crisis will have some impact. The “new normal” will not be like the “old normal”.

 

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