The number of domestic tourists from Wales planning to spend more time on holiday in the UK will surge by 32 percent this year; fuelled by millennials looking to escape from their smartphones and social media, according to a report from Barclays Corporate Banking.
The report which surveyed more than 2,000 British holidaymakers and 500 business leaders from the leisure and hospitality sector, found that people of all ages said they were planning to enjoy their main holiday in Britain this year, with over half (52%) of staycationers planning to spend more time in the UK this year compared to 2018. Staycation demand from visitors to Wales will increase by 33%.
According to UK Staycationers, the top locations to visit are the South West (31%), Scotland (22%) Wales (20%) and Yorkshire (20%).
Barclays report found that businesses in the region are also witnessing increased demand. In Wales 50% of those surveyed said they had seen an increase in domestic tourism since 2017, and 40% of Welsh businesses had seen bookings being made further in advance.
According to domestic holidaymakers, the main reason for the popularity of staycations is convenience, followed by the desire to visit places they have been to before. Almost 1 in 5 says holidays in the UK are more affordable with the same number choosing a staycation because of concerns that Brexit could have on foreign travel and family finances.
Hospitality business are already seeing their local economy benefit from increased demand for domestic holidays. In Wales 50% have seen employment opportunities improve; 27% have seen an increase in the number of hospitality businesses in their area and 35% have seen an increase in independent shops.
In response to the findings, Anthony Hawkins, Barclays Business Banking Area Manager for South East Wales said: “It is very encouraging to see that domestic tourism is thriving …”
West Wales has seen an enormous boost to the property market due to the popularity in staycationing, with people purchasing buy to holiday lets and second homes to satisfy the demand. Properties suitable for holiday letting are being sold as soon as they go onto the market or going to sealed bids and selling for way over asking price. Despite this they are excellent value when compared to properties in many popular holiday locations in the UK. Lifestyle buyers from other parts of Wales and the UK are also buying up properties with holiday lets or the potential to convert barns into letting properties. If you would like to buy a holiday home or invest in a buy to holiday let give West Wales Property Finders a call on 01834 862816. We can find your perfect property for you whilst saving you time, stress and often money too. http://www.westwalespropertyfinders.co.uk