New research has provided the local tourism sector with some valuable insights into how Aussies plan to spend their money during the summer holiday period.
According to the study by Money.com.au, 38 per cent of households said they will forego a holiday this summer, while 20 per cent will reduce their holiday budget.
A higher proportion of younger Australians will spend less on a summer getaway, with 25 per cent of those aged 18 to 30 citing this. This is compared with 23 per cent of 31-to-50-year-olds and 15 per cent of over-50s who said the same.
The research also found that Aussies who are unemployed or not doing paid work are more likely to forego a summer holiday this year, at 48 per cent, compared with 42 per cent of retirees and 34 per cent of those employed full-time.
You can check out the full study here.
Featured image source: iStock/patrickheagney