Bounty

Spending-mad travellers are exceeding their holiday budgets while they are away, a survey has revealed.

Price comparison website TravelSpec.com shows that 94% of holidaymakers overspend by around £500 or more. Around 72% of people budget for a spend of £500 for their trip, which means that they are doubling their initial allowance.

Around 78% of frivolous travellers are also being tempted to splash the cash before they fly with up to 10% of their budget spent on tax-free alcohol, cigarettes and beauty products, the survey of 6,000 people shows.

Men tend to be more extravagant than women, with 74% of male travellers spending up to £50 on tax-free products. Women are slightly more frugal, with only 40% spending £50 or above.

TravelSpec.com's managing director, Rafi Neumann, said: "With more people choosing to stay at home this summer, those who have booked holidays abroad have done so with a strict budget in place. However, once travellers adopt the 'holiday' state of mind they are more easily persuaded to part with their cash, especially when there are discounts available."

Copyright Press Association 2010