People spending more on holidays despite the cost of living

People are spending more on holidays despite finances being squeezed by the cost of living, according to recent reports by travel agents.

Average spending per holiday was £3,104 in mid-January, up about 5% on last year, with holiday bookings for 2023 expected to rise significantly.

Spain is the most popular booking destination so far, along with Greece, the US and Turkey, according to the UK's largest network of independent travel agents.

To maintain this momentum, it is important to protect the industries supporting the recovery of the travel sector – including duty- and tax-free.

Illicit trade, counterfeiting, and IT theft result in millions of lost sales opportunities each year – and to tackle this issue, the sector must work together to stamp out criminal activity.