With Christmas just around the corner, a survey by HSBC has shed light on how UK adults, including in the North East, are preparing for the festive season. From travel spending to the growing trend of gifting experiences, the survey offers a glimpse into how people are planning their festive celebrations.
Travel Trends in the North East
The survey revealed that 25% of North East residents are planning to travel this Christmas and New Year. Among those venturing abroad, the United States emerged as a popular destination, with 23% of respondents setting their sights on a transatlantic getaway.
Planning ahead appears to be a priority for many, as North East travellers book their festive trips an average of three months in advance.
Festive Budgets
When it comes to spending, North East residents are planning to allocate an average of £1,158 for seasonal travel, highlighting the importance of these festive getaways.
Meanwhile, the overall Christmas budget, which includes gifts, decorations, and the all-important Christmas dinner, is expected to reach an average of £664 per household in the region.
Experiences as Gifts
A noteworthy trend revealed by the survey is the increasing interest in gifting experiences rather than traditional presents. Some 30% of North East residents expressed a desire to give the ultimate Christmas gift this year: a trip or memorable experience.
This shift reflects a growing preference for meaningful and lasting gifts that create cherished memories.
Whether it’s splurging on a trip abroad, embracing the spirit of giving, or simply savouring the festive cheer closer to home, the survey highlights the varied ways in which people are celebrating the most wonderful time of the year.
Adrija Biswas, HSBC UK’s Head of Global Money, FX and Payments, commented:
“Holidays are topping people’s priority lists this festive period, with lots of people leaving the country over Christmas, and also choosing to gift trips away to loved ones as gifts.
“With one in four having plans for a festive getaway, we are also seeing a trend of ‘impulse travel’ – where spontaneous trips are being booked and paid for a month or less in advance. With the average festive trips coming in at over £1,300, this is a significant expense to commit to at short notice, which is why it’s important for festive jetsetters to ensure they’re not paying unnecessary fees and charges on their transactions while on their Christmas getaway. “With no HSBC fees on card spend or ATM withdrawals abroad, Global Money helps customers avoid unexpected costs and makes it easier to maximise your holiday budget during what we all know is the most expensive period of the year.”
For further information, please visit https://www.hsbc.co.uk/current-accounts/products/global-money/