New research shows that British holidaymakers have frittered away some £4 billion in last five years on unplanned purchases at airports, including £817 million spent merely to use up left over local currency.

The average traveller has 'dumped' £48 worth of foreign money at airports in the last five years, according to Halifax travel insurance.

However, more than 300,000 adults wasted over £1,000 in local currency on airport trinkets and 46,000 people parted with a staggering £2,500.

Whether money dumping is down to boredom while waiting for flights or a carefree 'holiday' attitude to shopping, Halifax claims all this extra cash could be better spent on travel insurance.

"Annual travel insurance policies are now available from as little as £243, less than the £36 frittered away in airports by holidaymakers," said Vicky Emmott from Halifax Travel Insurance.

"With over half of British adults admitting to travelling without travel insurance it appears millions of holidaymakers are throwing away money that could have been invested in insurance to protect them during their trip, choosing instead to buy perfume, alcohol, food and souvenirs."

The top ten items purchased by holiday money dumpers include Perfume, alcohol, food, souvenirs, cigarettes, books, cosmetics, CDs, jewellery and DVDs.