New data from Sainsbury’s Bank Travel Money has found that people who go travelling for extended periods are typically away for just under six months – an average of 169 days(1) – challenging the notion of the gap year.
According to the Office of National Statistics, during 2018 312,000 Britons went abroad for a period of 3-6 months, compared to 84,000 who went overseas for 6 months – 1 year(2).
Analysis of Sainsbury’s Bank’s own travel data shows 18-25 year olds(1) are most likely to head overseas for an extended period, potentially making the most of their time between leaving education and entering the working world.
Thailand, New Zealand and Mexico are proving popular long-haul destinations for travellers(3). Sainsbury’s Bank Travel Money rankings show the Thai Baht was its ninth most popular currency in 2018, followed by the New Zealand Dollar at number 10 and the Mexican Peso at 12(4). The Mexican Peso has seen a surge in popularity as it has jumped three places up the list of popular currencies in the past two years, from 15th in 2016 to 12th in 2018(4).
The currency data reflects travel trends with Mexico being the sixth most visited country in 2018(3). Thailand outranks every other nation in Asia when it comes to tourism spend and New Zealand was named as one of the top 10 countries to visit in 2018 (3).
Simon Taylor, Head of Travel Money at Sainsbury’s Bank, said: “Travelling is a fantastic opportunity to spend quality time exploring new countries and cultures. It can be expensive to go away for long periods of time so savvy travelling enthusiasts should make sure to check out the latest currency deals to ensure they get the most for their money. Sainsbury’s Bank Travel Money has an online exchange rate calculator which calculates how much more you could get for your money along with the discount applied with a Nectar card(5).”
For further information, please contact:
Sainsbury’s Bank press office 0131 286 0010 / [email protected]
Ends
Notes to editors:
This press release is information for journalists only and is not intended to be a promotion to be acted upon by consumers.
Rates and information correct at date of issue.
(1) Analysis of Sainsbury’s Bank travel insurance extended trip data from February 2018 – May 2019. Analysis carried out in June 2019
(2) ONS Travel Trends data 2018
(3) According to the UN World Tourism Organisation 2018, Mexico is the sixth most visited country in the world and Thailand outranks every other nation in Asia when it comes to tourism spend. Lonely Planet named New Zealand as one of the top 10 countries to visit in 2018
(4) Sainsbury’s Bank Travel Money internal data from 2015 to 2018
(5) Better exchange rates for Nectar card holders are available on single purchase transactions of all available foreign currencies bought in store, online or by phone. Exchange rates may vary depending on whether you buy in store, online or by phone. Nectar points can be collected on foreign currency purchases made in store, online and by phone; and Travel Money Card purchases and re-loads in store. They cannot be collected on Travel Money Card home delivery orders or online re-loads. 10 Nectar points will be awarded on each full £100 of foreign currency purchased in store and 5 points will be awarded on each full £100 of currency ordered online or by phone. Purchases under £100 will receive 10 points if made in store or 5 points if ordered online or by phone. Make sure you give us your Nectar card number before you complete your purchase. The points will be added to your account within 60 days from the date you purchase. Sainsbury's Bank reserves the right to alter, cancel or withdraw this offer without prior notice. No cash alternative available. Sainsbury's Supermarkets Ltd award the points from this offer.
About Sainsbury’s Bank
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Sainsbury's was the first major supermarket to open a bank in the UK in February 1997. Our range of financial products includes mortgages, credit cards, savings and loans, as well as travel money, and car, home, pet, travel and life insurance which we provide online and by telephone. We offer Sainsbury’s shoppers great deals and rewards for choosing to shop and bank with us.
We have travel money bureaux at various Sainsbury's supermarkets across the UK and a large ATM estate.
Sainsbury's Bank plc. Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. 184514). Sainsbury's Bank plc is covered by the Financial Services Compensation Scheme (FSCS).