The Hidden Cost of Holiday Travel [Infographic]

Wise

20.12.16 (updated more than 1 year ago)

1 minute read

Are you one of the millions of Americans traveling this holiday season?

Holiday travel can be the perfect way to put the stresses and strains of the year behind you. You might find yourself in search of foreign adventures, or simply making time to visit family and friends.

However, it's often not as simple as it should be. When to book? When to find flights? And how much will it all cost?

Wise has broken down how much these decisions have cost American globetrotters in the 2016 holiday season, and provided a guide to help you make sure you get the best value on all your future travels. Happy holidays!

Flights

Travelers from American booking in the final two weeks before international travel could be losing as much as $700m collectively every holiday season, compared to the best available prices.

When traveling to Europe, it's especially crucial to book ahead of time. An average of $411 is lost by people booking in the final week compared to the best available price.

Hotels

You can actually save a lot by booking in the month before you go on your holiday season travels - as much as 15% if you're going to Europe. Perhaps not what you'd expect!

Only a quarter of travelers take advantage of this trick, but they could be saving $15 per night on a $100 room.

Sending money internationally

Holiday gifts, supporting family overseas, foreign travel and making business payments over the holiday season - all of these require sending money internationally.

However, your bank might be charging you a lot (often as much as $69 on a $1,000 transfer). We reveal how much you could save with Wise when sending money to pounds, Canadian dollars, euros and Mexican pesos. You'll be shocked.

Find out more in the infographic below:

infographic

Find out more about how we calculated these price comparisons in the following links for each of GBP, CAD, EUR and MXN.

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This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

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