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1. Set a budget

You could still have the holiday of your dreams if you know how much you’re willing to spend and can withstand today’s tougher economy financially. It might be a case of drawing up a list of potential expenses, identifying what you’re willing to splash the cash on, and setting your budget accordingly.

2. Do your research

The key to luxury travel on a budget is to put the leg work in ahead of time. This could help with smart choices on flights, accommodation and trips. Consider emerging destinations or less obvious options: Cuba rather than the Caymans, Slovenia rather than Switzerland.

3. Choose a destination where the cost of living is cheaper

Pick a country or city where prices are generally lower for accommodation and food than those in the UK. In the Post Office Holiday Money Report 2022, which compared prices for meals, drinks and other essentials that British tourists are likely to buy while abroad, Turkey and Bulgaria came out top for value overall. Portugal’s Algarve was third and cheapest in the eurozone, while Cape Town, South Africa, remains best value for long-haul travel.

When you get there, check out ways to be a culture vulture for less. Many cities have days when entry to museums is free, for example. Food halls or street markets are cheap and a great way to support the economy too.

4. Use your points, air miles or rewards

Luxury stays and travel could be more affordable if you take advantage of benefits you may already have access to. Our Reward Black account, for example, gives customers worldwide airport lounge access, a discount for breaks, holidays and car hire, as well as travel insurance options for a £31 monthly fee. Eligibility criteria apply.

You won’t get caught out by hidden fees with the Reward Black debit card either – there is no non-sterling transaction fee when you make a payment outside the UK or in a foreign currency. Not valid for ATM withdrawals. Other local fees may apply.

Monthly fees apply to certain accounts, see our fee information and more detail on account options. Specific account eligibility applies. To open a Premier account you must be 18+ and a UK resident.

5. Choose newly opened hotels

If hotels are trying to build a reputation among well-heeled travellers, they will often use introductory offers to attract guests shortly after opening. Check social media channels for the latest updates. Sign up for newsletters and look out for limited time deals and discounts at your favourite resorts or brands. Also, check out what’s available in the sale and budget sections of luxury travel providers – there could be deals up for grabs.

6. Identify the best month, day, or time to book

If you have a family with younger children, not yet at school, remember to take advantage of term time travelling to avoid school holiday price hikes. If your children are already at school, it pays to know term dates well in advance so you can take advantage of any early-bird deals. If you’re more flexible, flight prices tend to rise on Saturdays and Sundays, so travel midweek if you can. Look for end-of-season breaks and consider travelling in ‘shoulder season’ (between high and low season).

Other ‘travel hacks’ to consider

  • Holiday with friends and family to share the cost of a villa and gorgeous pool.
  • Don’t rule out a B&B – chic options are springing up all the time and the service can be second to none.
  • Stay out of the centre of town – you’ll usually get a room for considerably less.
  • Avoid air travel or long-haul altogether and drive or take the train. Our Premier Reward Black account has a great range of insurance cover to protect you at home or abroad, including UK & European car breakdown cover.

If you’re planning a trip, find out more about the extra benefits you could get with our Reward accounts (fees apply).

Specific account eligibility applies for Premier Reward account options. To open a Premier account you must be 18+ and a UK resident.

Help at your fingertips

Call Premier 24 on 0333 202 3330

Relay UK 18001 0333 202 3330

International +44 161 933 7239

New to Premier? Speak to us to find out how we could help you reach your goals of tomorrow, today.

This material is published by NatWest Group plc (“NatWest Group”), for information purposes only and should not be regarded as providing any specific advice. Recipients should make their own independent evaluation of this information and no action should be taken, solely relying on it. This material should not be reproduced or disclosed without our consent. It is not intended for distribution in any jurisdiction in which this would be prohibited. Whilst this information is believed to be reliable, it has not been independently verified by NatWest Group and NatWest Group makes no representation or warranty (express or implied) of any kind, as regards the accuracy or completeness of this information, nor does it accept any responsibility or liability for any loss or damage arising in any way from any use made of or reliance placed on, this information. Unless otherwise stated, any views, forecasts, or estimates are solely those of the NatWest Group Economics Department, as of this date and are subject to change without notice.

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