WORRIED BRITS SACRIFICE SUMMER HOLIDAYS TO SAVE JOBS

Thursday, 28 July 2011

  • swiftcover.com Life Index shows that a quarter of Brits are not taking a summer holiday this year

  • Two thirds (66 per cent) of those not taking time off blame “financial pressures”

  • Of those that can afford time off, 15 per cent will be working while on holiday

Nearly a quarter of Brits (24 per cent) will miss out on summer holidays this year, due to financial pressures, mounting workloads, and fear of being made redundant, research released by insurer swiftcover.com has found*.

The research, conducted as part of swiftcover.com’s quarterly Life Index - which rates the nation’s feelings across all aspects of life - also found that of those who would be taking a holiday this year, many would be likely to have to work during their time off: five million said that they will check their emails daily, while 1.5 million will have to carry out work duties while on holiday. Moreover, 1.25 million UK holiday makers will make “regular” calls to their office, and 1.3 million chose a destination that would allow them to work from holiday.

Asked why they will forgo their holiday, the majority (66 per cent) cited financial pressures as being the main reason, while more than half a million (580,000) said that they were worried about job security and wanted to commit more time to work. Meanwhile, 550,000 of those who would not be taking a holiday blamed the threat of redundancy, and said that they needed to be seen to be working in the office.

Amanda Edwards, senior marketing manager at swiftcover.com commented: “The country is still gripped with concern by economic conditions so Brits are understandably worried about the impact having a holiday may have on their jobs. According to our research, not only are huge numbers of people sacrificing their holidays to fend off the threat of job loss, but those going away for a break are having to report back to the office on work while away.”

Those aged 45 to 54 years old are most likely to sacrifice their holiday this year, with 41 per cent missing out; compared to 28 per cent of 16 to 24 year olds and nearly a third (32 per cent) of 25 to 34 year olds. However, savvy 25 to 34 year olds are four times more likely to choose a destination that allows them to work while on holiday than older travellers, enabling them to work while on holiday and avoid having to stay in the office.

Edwards concluded: “Summer holidays are a chance to relax and recuperate after a period of hard work, and the benefits of taking time off are well-documented. Brits working full time are entitled to at least 28 days of paid leave, and using the time off to relax or travel will broaden your horizons, open your eyes to new things and allow you to return to work feeling more productive and focused.”

swiftcover.com’s findings revealed that Brits are troubled by the prospect of saving up for their travel plans, worrying more about affording holidays than about their mortgages, credit card bills and clothes for their families.

When asked what caused the most financial worry, 39per cent highlighted the damaging rise in utility bills, while holidays costs were key for a quarter (24 per cent) and food and drink for the family were chosen by 23 per cent of respondents.

However, apart from concerns about holidays and job security, we are significantly happier than we were three months ago thanks to more people being content with their incomes and social lives.

How happy are we?
• When asked how happy people were in April 2011, half said (51 per cent) either quite or extremely happy. When asked again three months later, it has increased to two thirds (65 per cent).
• But how does this compare to last year? A quarter of people (24 per cent) said they were happier than they were a year ago while 56 per cent said they felt the same. Both up on April, at 21 per cent and 54 per cent respectively.
• But is this the happiest time of our lives? Amazingly 42 per cent say that they are currently the happiest they have ever been, this increases from 27 per cent in April. So what has changed?

What’s changed since April...
• Not much in real terms, although we are moderately happier with income and social life, which are the only things that have seen a slight increase. Crucially, we have not seen a reduction in happiness in any areas of our lives.
• Despite our rising levels of happiness, we are slightly more concerned by our job security, the strength of our relationship, and the financial pressure we are under compared to April. Finally, there has been an increase in the level of concern in domestic and social security.

New for June Life Index
• Local Govt:
o 58 per cent of UK adults are unhappy with cuts to services
o Nearly a third (30 per cent) don’t think local govt know what they are doing
o Reduced healthcare is worrying for one in four adults (26 per cent)

• Government:
o Reduced healthcare is worrying for half of adults (46 per cent)
o 44 per cent don’t think government know what they are doing (less faith than local)
o 41 per cent are worried about unemployment
o 31 per cent are concerned by international affairs

Full access to the Life Index findings – broken down by demographic, gender and city - can be obtained by getting in touch with the below contacts.

swiftcover.com offers car, home, travel, motorbike and pet insurance, among other products. See swiftcover.com for more information.


Ends
Notes to Editors

*Research carried out among a nationally representative sample of 2,010 UK adults by Opinion Matters from 10 – 26 June as part of swiftcover.com’s quarterly Life Index.

For press enquiries please contact:
Luke O’Mahony or Charlotte Sluter
Brazil (PR agency for swiftcover.com)
020 7785 7383
swiftcover@agencybrazil.com

About swiftcover:

swiftcover.com was born out of a desire to revolutionise the general insurance market by making insurance quick and easy to use.

swiftcover.com offers car and home insurance. As an online only brand, they save on overheads which allows any cost savings to go straight back to customers through value for money insurance cover. swiftcover.com's revolutionary approach to the insurance market has resulted in some prestigious awards, including the lovemoney.com award for 'Best Value for Money Car Insurer' which was won in 2012.

This powerful operating model combined with successful marketing and competitive pricing has proven to be a tremendous success.

swiftcover.com is a trading name of AXA Insurance UK Plc which forms part of the AXA Group.

About AXA:

AXA Group is a worldwide leader in insurance and asset management, with 216,000 employees serving 93 million clients. In 2010, IFRS revenues amounted to Euro 91 billion and IFRS underlying earnings to Euro 3.9 billion. AXA had Euro 1,104 billion in assets under management as of December 31, 2010.

The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISNFR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Shares are also quoted on the OTC QX platform under the ticker symbol AXAHY.

The Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.
Our previous company performance is not a guide to how we may perform in the future.

Any opinions expressed in this media communication are made as at the date of this publication but are subject to change without notice.

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