British travellers spend £34.4 billion on trips abroad annually, according to new research findings.
Alliance & Leicester, which conducted the study, also reports that Britons spend £23.3 billion of that figure abroad.
The average cost of a holiday stands at £514 per person, or £2,056 for a family of four, according to the survey.
Richard Al-Dabbagh, Alliance & Leicester personal loans manager, said: "Holidays are meant to be a time of enjoyment but often the cost of going abroad, especially for a family, can be quite substantial."
The study identified Iceland as the country with the highest average per-day spend, which stands at £118, over £40 more expensive than the daily cost of holidays in Canada, the cheapest country to holiday in.
It follows a recent announcement by the Office for National Statistics that the number of Britons holidaying abroad has increased five per cent during the period September to November 2007.
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