With around 100,000 UK student travellers heading for the big blue yonder this year, the gap year bill could be set to be in excess of £500 million.* But according to volunteer travel specialist i-to-i, not every penny is being spent wisely, with many young travellers scrimping on necessities and splurging on the non-essentials.
New research from the gap year provider shows more than nine in ten (92) per cent of young travellers fall foul of the ‘impulse buy’ trap, being coaxed by the likes of cheap DVD’s and didgeridoos! Similarly:
- Four in five (78 per cent) of returned gappers say they have been victims of overseas overcharging with transport charges being a fleecing favourite.
- One in three (31 per cent) have been caught out by unexpected travel charges such as airport tax.
- While more than half (53 per cent) admit to general overspending during their trip.
The founder of i-to-i Deidre Bounds, herself an avid traveller says: “We have found that the average ‘gap’ can anywhere from £2,000-£5,000. With many weird and wonderful country souvenirs, low prices and good exchange rates it is hard not to go a little crazy and splash out. However, this is often on items you don’t really need that will push your backpack and your credit card over the limit.”
Be sure to insure
More worrying than bad budgeting however, is the fact that many young travellers skimp on essentials to make room for their ‘must haves.’ i-to-i research has found up to a quarter of those students about to embark on a gap year do not plan to take out travel insurance.**
Deirdre says: “Considering that one in three gappers who do have insurance make a claim,** this could be a hugely expensive omission. For instance, an air ambulance could set someone back £100,000 or a simple sunstroke can cost up to £8,000 in medical bills.*** So if insurance is not arranged properly then students are putting themselves and their families at serious financial risk, just for the matter of a few hundred pounds.”
Contingency crisis
The i-to-i survey also unearthed that two thirds of returned gap travellers (63 per cent) either didn’t have contingency monies for their travels, or found the emergency fund they did have was just too small. Whether your fund pays for emergency dental work or an extra night’s lodging, it is vital to expect the unexpected when travelling.
“But it’s a once-in-a-lifetime adventure...”
Falling under the contingency umbrella come the occasional overseas opportunities which just can’t be turned down. But they come at a cost. More than two thirds of young travellers enjoy a spot of adventure sport on their travels, but given that a bungee jump in Oz can cost more than £50 and a tandem sky-dive down under in excess of £100, people need to take this ‘must-have’ costs into account.
How much is enough?
When you make that decision to take time out whether it be a few weeks, months or even years, it is hard to know how much you will need to raise. Not only will you need spending money but also flights, insurance and all those hidden extras that can push such adventures out of reach of your strained purse strings.
Here are some of the major costs i-to-i suggests most travellers need to cover in order to make their dream trip a reality. (NB: all costs are approximate and will vary depending on where and when people travel and for how long):
Flights and airport taxes £1,000
Insurance £250
Visas £10 - £100 (depends on where you visit and if you want work permit visas)
Immunisations £70
Backpacks and travel essentials £300
Overland travel costs £200 - £400
Adventure sports £50 - £200
Tours / volunteer project costs £1,300
Daily living costs £10 - £25 per day
Deirdre concludes: “Travelling the world is an amazing, enriching experience,
and with careful planning, one which need not include money worries. By doing
your research and speaking to those who have already
travelled, you can set yourself a realistic budget before you step on the plane.”
And parents shouldn't forget that if their child runs out of money it is possible to make a money transfer to most places in the world.to bail them out of trouble. You can make a money transfer online.
Useful links
Buy travel insurance online
Travel
ideas
Cheap car hire
City guides
Order your currency
Cheap flights
Find your way around with our
city maps
And if you haven't got the time or the money for a gap year expedition then
just have a cheap but brilliant holiday.
Fun in the sun with bargain package holidays
Cheap late deals
Hire a villa for you and your mates
*Figures based on 100,000 gap year travellers spending between
£2,000 and £5,000 (sources: the Year Out Group and www.gapyear.com).
** Source: Direct Line travel insurance.
*** Sources: Gapyear.com and Direct Line.
