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Britons are not giving up their holidays in the sun even when they face some economic difficulties, an economist claimed.
José Antonio Roselló, economist and vice president of the Confederation of Business Associations of the Balearic Islands (CAEB), believes UK citizens are more likely to save money on everyday expenses rather than skipping their summer holidays.
Ibiza, being one of the destinations most-loved by Britons, is lapping up the benefits of a similar stance towards vacationing, Mr Roselló suggested, as UK citizens continue to pour into the island despite economic uncertainties.
Citing data by Turespaña, the official agency of the Spanish government responsible for the marketing of Spain as a tourist destination, Mr Roselló told Diario de Ibiza: “[Britons] perceive vacations as a necessity, so they travel regardless of their economic situation, although this determines aspects such as the number of trips per year, spending and duration.”
He further explained: “In the context of a low unemployment rate like that of the United Kingdom, the pandemic initially involved the catch-up effect (making up for lost time) or carpe diem (as if there were no tomorrow).
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“Carpe diem can remain in force, in such a way that, and this is the essential thing, there would be a shift within the shopping basket of individuals and families in the sense of tending to acquire tourist services versus acquiring tangible goods.”
British retail sales fell by 0.9 percent in September, when the warm weather paired with a heightened cost of living likely discouraged buying autumn clothing.
While it is key that Britons value their holidays, the fact that the unemployment rate is very low contributes to the high level of UK citizens going on vacation.
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The fact savings rate of the average British household “isn’t too high”, Mr Roselló added, implies Britons are huge consumers – and invest, among other things, in their holidays.
Spain remains one of the countries most popular among Britons.
The party island of Ibiza alone counted 800,000 Britons so far spending their vacations there this year – close to a quarter of the total visitors recorded in 2023, according to Spain’s survey of tourist expenditure (Egatur).
During their time there, Britons spent on average around £178 per person during their Ibiza getaway, Egatur found – more than Spaniards, who instead spent on average £109 per person.
The third largest Balearic Islands, Ibiza is well known for its nightlife and electronic dance music club scene.
But it has much to offer also to those who prefer a quieter and more family-friendly holiday, offering hot-air balloon rides and visits to stunning landscapes such as the Cueva de Can Marca.
As a testimony to its beauty and unique ecosystem, Ibiza became a UNESCO World Heritage Site in 1999.
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