Over a third of Britons are not planning to travel outside the UK this summer, according to a study by Travelodge.
The hotel chain found 35% had made no plans to go abroad, citing rising living costs, government cutbacks and static salaries.
The study found that, on average, UK holiday makers plan to spend £422.69 on a weeklong vacation. That is down nearly £150 from last year.
Travelodge spokeswoman Shakila Ahmed said: “It has been a tough year for many British adults with rising household costs and government cutbacks, but our research shows that cash-strapped Britons are clinging onto their annual holiday; in order to add some cheer into their lives.”
“Due to hefty financial cutbacks, more Britons are opting for a Staycation this year, which is great news for the British tourism industry.”
The study found the top five British destinations for are:
2. The Lake District
The top domestic holiday categories were:
1. Seaside holiday (33%)
2. City break (25%)
3. Country break (22%)
4. Visiting relatives (20%)
5. Theme park holiday (10%)
The study predicts the British tourism industry will be boosted by £7.2 billion by this new influx of tourism.