The study, which polled over 2,000 UK adults, also highlights a growing trend in gifting travel and experiences, particularly amongst younger Scots.

Italy emerged as the most popular destination for those travelling, with 19% of Scots opting for an Italian escape. On average, residents in Scotland plan their trips three months in advance and intend to spend £1,179 on their seasonal travel. This is in addition to the average £784 they expect to spend on overall Christmas expenses, including gifts, decorations, and food.

The survey also uncovered a significant interest in gifting travel experiences. Some 40% of Scots expressed an interest in giving a trip or experience this Christmas, with 47% agreeing that travel makes for a unique present. This trend is especially prevalent amongst those aged 25-34, with 29% considering gifting a trip. The primary reasons for this shift are the desire to create lasting memories with loved ones (39%) and the preference for experiences over material possessions (34%).

Adrija Biswas, HSBC UK’s head of Global Money, FX and Payments, said: “Holidays are topping people’s priority lists this festive period, with lots of people leaving the country over Christmas, and also choosing to gift trips away to loved ones as gifts.

“With one in four having plans for a festive getaway, we are also seeing a trend of ‘impulse travel’ – where spontaneous trips are being booked and paid for a month or less in advance. With the average festive trips coming in at over £1,300, this is a significant expense to commit to at short notice, which is why it’s important for festive jetsetters to ensure they’re not paying unnecessary fees and charges on their transactions while on their Christmas getaway.

“With no HSBC fees on card spend or ATM withdrawals abroad, Global Money helps customers avoid unexpected costs and makes it easier to maximise your holiday budget during what we all know is the most expensive period of the year.”