A NEW study has revealed that one in five families in Spain have been forced to abandon their holiday plans this year as rising inflation continues to drive up the cost of travel.
The report, by fintech firm SumUp, reveals that thousands of Spanish families are scrapping their holiday plans as inflation continues to rise.
One in five Spaniards said they will be unable to travel this year because of financial pressures, while 35% said they have either cut their holiday budget or shortened the length of their trip.
Over-55s, in particular, are feeling the squeeze with 21% saying they will not go on holiday this year.
With inflation now standing at 3.2%, up from 2.3% in January, many households are feeling the financial strain, forcing many to cut back on travel plans.
Eating out is another casualty of rising costs, with 41% of families saying they have reduced how often they dine at restaurants.
Amid rising costs, 78% of Spaniards say they are worried about the cost of basic goods such as food and transport while only 38% say they feel financially secure.
In a climate of financial uncertainty, holidays are often the first expense to be cut.
Click here to read more Travel News from The Olive Press.
