Around half of UK shoppers are planning to holiday in Britain this summer because of concerns over Brexit, potentially boosting the economy by £5.3bn.
The average British “staycationer” plans to allocate £334.77 for spending money outside of accommodation and transport on their UK holidays, research from payments provider Square indicates.
The staycation boom can be attributed to consumer concerns about Brexit (39%), the high cost of foreign travel (25%), the value of the pound (18%), and worries over security abroad (14%). One-quarter of respondents simply prefer to holiday in the UK.
Helen Prowse, a spokeswoman for Square, said: “Staycation spending is set to provide a much-needed boost for the nation’s seasonal businesses this year. With 93% of holiday shoppers expecting to pay by card, now’s the time for business owners to jump on board. Whether you’re driving a taxi, renting out a room, hiring out deckchairs, running a beach bar or selling ice cream, by setting yourself up with a mobile payments technology like Square you can accept card payments quickly and affordably, wherever you are.”