Pension spending to boost motorhome sales
The grey pound keeps UK tourism goingWith pension reforms coming into effect today (6 April) allowing over 55s to take a tax-free lump sum out of their pension pots, a recent survey by leisure vehicle holiday brand, Freedom to Go, has found that the grey pound will be shoring up the UK tourism industry, with many at retirement age planning adventures on their own doorstep.
In a poll of 1,000 over 55’s, more than half (56%) said that when they retire they would prefer to go on holiday in the UK rather than go abroad, citing the freedom to plan their own trip (68%) as a key benefit over taking a prescription package holiday. Furthermore, almost a quarter (24%) said they would consider buying a campervan, caravan or motorhome with their pension now or in the future to enhance their available leisure time.
Top three holiday options to take in retirement:
1. UK break
2. Package holiday abroad
Rachel Piggot from Freedom to Go, said, “It’s great to see that the over 55’s with disposable cash and time are looking for adventure in the UK, a real shot in the arm for UK tourism - which is not surprising considering the natural beauty we have on our doorstep.
“With fuel duty freezes and lower tax on alcohol, pre-election budget announcements have made UK staycations more appealing than ever and holiday makers love the freedom a holiday in a campervan, caravan or motorhome offers, allowing you to make decisions for yourself and be the master of your adventure.”
“For those considering buying a consider buying a campervan, caravan or motorhome the continued low price of fuel compared with recent years mean that you can fill up and flock to the beach, countryside and coast knowing that you will have more money to treat yourself when you get there. With tax cuts on alcohol too, it means that a cheeky shandy after a lengthy stroll along canal paths will be a penny cheaper, saving the average ‘vanner even more cash!”
Sales of new touring caravans and new motorhome registrations increased dramatically during 2014; caravans up 9.2% and motorhomes up 18%. More than two million people already take a caravan holiday each year in the UK.
Rachel concluded, “In recent years it’s not just the over 55’s that are buying into the lifestyle that owning a caravan or motorhome enables. Anecdotal evidence suggests that more, younger buyers with families have also entered the market too.”
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