Main findings:
- 47% say they are holidaying differently this year because of the cost of living crisis
- A third (34%) of those planning one main holiday aim to take it in Ireland this year
- 63% believe holidaying abroad this year represents better value than holidaying in Ireland
- 46% would rather rent a holiday home in Ireland than stay in a hotel
- Most respondents believe hotel prices (77%) and holiday home (72%) prices in Ireland are more expensive now compared with previous years
- 39% have had to change holiday accommodation plans because of financial restraints
- Kerry, Galway and Donegal are top three Irish holiday destinations
A new survey has suggested that the rise in the cost of living is having a significant effect on people’s holiday plans this year.
According to the survey of 2,008 people conducted in May 2023 by leading property website MyHome.ie, nearly half of prospective homebuyers (47%) say they are holidaying differently this year because of the cost of living crisis.
Of those who are only planning one main holiday this year, just a third (34%) aim to take it in Ireland, while over six in ten (63%) say that holidaying abroad this year represents better value than holidaying in Ireland.
Four in ten (39%) of respondents say they have had to change their holiday accommodations plans because of financial restraints, while 77% and 72% believe hotel prices and holiday home prices in Ireland, respectively, are more expensive now compared with previous years.
Furthermore, nearly half of people (46%) say they would rather rent a holiday home in Ireland than stay in a hotel.
According to the survey respondents, Kerry, Galway and Donegal are the top three favourite Irish counties in which to holiday.
Joanne Geary, Managing Director of MyHome.ie, said: “The cost of living crisis has had a significant impact on people for the past year, and now we are seeing that effect on the holiday market. It is clear that many people feel priced out of the Irish holiday market this year, and many of them have had to adapt and be flexible in order to get a much-needed break.”
She said it was notable that a significant cohort of respondents said they had to change their holiday accommodation plans this year because of financial constraints.
“Almost half of respondents (46%) in this survey told us that they would rather rent a holiday home in Ireland than stay in a hotel. This corresponds with what we see on MyHome.ie, with an overall 36% rise in the number of enquiries for holiday homes listings both at home and abroad in the first five months of this year compared to the same period in 2022.”
