74% of Irish consumers expect rising costs to impact their summer holiday plans for this year, according to new research by global tech company Wise.
When respondents factored in travel, accommodation and general spending, they expect to spend on average €2,800.
Half of those surveyed plan to use their savings to pay for their trip, while 13% will choose credit cards, and 12% will consider taking out a personal loan.
As prices soar, one third said they are more likely to travel to a cheaper destination than they would have in the past, while a further 17% said they will go away for a shorter duration.
But most aren’t cancelling their plans, with 76% expecting to travel internationally, almost back to pre-pandemic levels.
11% said they are more likely to holiday in Ireland this year due to rising costs, while 10% are still undecided.
A beach holiday remains the top choice, with over half of Irish consumers opting for sea and sand.
70% said they will holiday in Europe, while North America and the Caribbean ranked second and third.
32% of respondents said they will take at least one holiday this year, while 40% will take at least two, and 10% will take at least four.