Londoners are big spenders when it comes to jetting off, splashing out three months' worth of their salaries on summer holidays according to new research.
This is a higher proportion than anywhere else in the country, with the average Brit spending just two months’ salary on holidays .
New research by ATOL , the UK’s holiday financial protection scheme, also found that almost a third of Londoners, 29%, spend even more than a third of their salary on their annual holiday, compared to 9% of average Brits.
So what are Londoners splashing out on?
The survey, which was carried out on 2,000 UK adults between July 3 and 5 2017, showed 50% of Londoners will fork out on convenient flights, compared to 37% of the rest of the UK, 45% will pay extra for a sea-view room and 48% will splash the cash when buying poolside food and drinks.
One thing Londoners are not spending money on though is insurance.
According to the research, 58% admit they would not be prepared to spend extra money on travel insurance or ATOL protection, despite more than 316,000 holidaymakers being rescued or reimbursed by ATOL since 2010.
The survey found capital city dwellers do take some money saving measures whilst on holiday, including taking public transport and switching off phone data.
Top 10 ways Londoners save money on holiday
1. Purchase drinks from the local supermarket
2. Book a family room rather than separate rooms
3. Take public transport whilst on holiday
4. Don't pay for priority seating seating on the plane
5. Despite 50% of Londoners forking out extra for convenient flights, some still opt to fly at anti-social hours in a bid to save money
6. Use a towel rather than paying extra for a sun bed
7. Switching off phone data
8. Take snacks from home
9. Pack like a ninja and only take hand luggage on the plane
10. Take their own food on the plane
Working with ATOL, personal finance expert, Simon Read, has provided some advice on how holidaymakers can go about saving money.
He said: "People love to go on holiday and spend a little bit extra to ensure that they go to the right place and have a good time.
"However, there are some things that are worth spending the cash on and some which will simply pour their hard-earned money down the drain.
"While fancy dinners out and paying for sun beds each day are enjoyable luxuries it is vital to not do so at the expense of some of the more fundamental holiday necessities."
Simon's top money saving tips
Shop around for a better deal but ensure that deal is ATOL protected so you can always get home safely or get refunded if the travel company goes bust.
Check out local prices in chosen destinations before purchasing in duty-free.
Plan your spending, ask for a map and head out exploring or take a bus rather than wasting money on a taxi.
Cook in your own accommodation on certain nights to save money on meals out.
If you are going away more than once, buy annual insurance cover as it will often work out cheaper than spending money on numerous policies.
Try using a pre-paid currency card, as it will usually give a better exchange rate than the high street.
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