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Staycations to boost summer spending in the UK

Tom Bottomley
04 July 2019

According to new research out today from Square, 50% of Brits are planning a summer staycation this year, with a potential £5.3 billion added to the UK economy, presenting a big opportunity for Britain’s small businesses to boost sales during the summer months.

The average British "staycationer" plans to allocate £334.77 for spending money. The staycation boom can be attributed to consumer concerns about Brexit (39%), the high cost of foreign travel (25%), the value of the pound (18%), and worries over security abroad (14%). A quarter of respondents simply prefer to holiday in the UK.

Convenience is key this summer, with an overwhelming 93% of consumers expecting to pay by card at their holiday destination. Despite this, a massive 3 million small businesses across the nation remain cash-only.

Helen Prowse, a spokesperson for Square, said: “Staycation spending is set to provide a much-needed boost for the nation’s seasonal businesses this year. With 93% of holiday shoppers expecting to pay by card, now’s the time for business owners to jump on board.”

Square commissioned a nationally representative survey of 2,000 consumers and 1,000 owners of small businesses across the UK, conducted by Censuswide in May 2019.

Square, Inc. revolutionised payments in 2009 with Square Reader, making it possible for anyone to accept card payments using a smartphone or a tablet computer. Today, Square provides tools that empower businesses and individuals to participate in the economy. Square is headquartered in San Francisco, with offices in the United States, Canada, Japan, Australia, Ireland, and the UK.

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