The rising cost of living, exacerbated by the crisis in the Middle East, is declining on summer holiday plans for one in five Britons, who appear unable to financially cope with the expense, according to a new report.
Nearly one-third (30%) of Britons have postponed their holidays or travel plans this year, according to findings from a survey conducted by YouGov on behalf of fintech company SumUp. Even more concerning are the findings for 19% of respondents — nearly one in five — who say they cannot afford to travel at all.
The results reveal growing financial concerns, as ongoing tensions in the Middle East are affecting economies worldwide. Oil prices have surged amid the conflict involving the U.S.–Israel “alliance” against Iran, triggering a chain reaction that has increased the cost of energy, food, and aviation fuel.
The uncertainty is attributed to disruptions in oil flows through the Strait of Hormuz, amid Iran’s threats against oil tankers following U.S. strikes on the country in February. The strait is a key global trade route through which approximately 20% of the world’s oil and natural gas is transported.
Corin Camenisch of SumUp said: “With people’s finances already stretched and international events now ‘conspiring’ to make travel significantly more expensive, it is unfortunate but not surprising that we are seeing one in five people in the UK unable to travel this year due to cost.”
“It is not only about people being forced to miss their summer holidays—however sad that may be—but also about families and friends who are unable to attend important life events of their loved ones,” he added.
Meanwhile, airlines have increased flight cancellations for May as aviation fuel prices continue to rise. Specifically, 296 departures from UK airports have been cancelled so far this month, according to recent data from analytics company Cirium, a number that is increasing day by day.
The EU Commissioner for Energy, Dan Jørgensen, recently told Sky News that this year many people’s holiday plans are likely to be affected by the high price and low availability of aviation fuel, saying: “Unfortunately, it is very likely that many people’s holidays will be affected, either due to flight cancellations or very, very expensive tickets.”
Relief measures for british citizens
In April, the UK government announced a “five-point plan” to tackle the cost-of-living crisis amid pressures linked to the situation in Iran. The measures included a £117 reduction in the Ofgem energy price cap from April, as well as investments in energy security aimed at making the UK less vulnerable to market volatility.
The UK Chancellor of the Exchequer, Rachel Reeves, recently unveiled a new package of measures that included reducing VAT to 5% on admission prices for summer attractions such as theme parks and children’s entertainment centres, as well as offering free bus travel for under-16s in England during August.
At the same time, the Treasury confirmed it is postponing planned fuel duty increases that were due to come into effect in September and December 2026.
