Holidaymakers 'not cutting back'
Consumers are cutting the amount they spend on their weekly shopping and going out less in order to make their money go further at this time of economic distress.
But the good news for the travel industry is that the vast majority remain willing to spend just as much on their holidays as they did last year.
That is according to a survey by airport parking and hotels specialist, Holiday Extras, which indicated that only 10.9 per cent intend to spend less on travel this year.
It is reassuring to know that holidaymakers are not cutting vital services such as holiday insurance in their quest to survive the credit crunch, as doing so could lead to much greater expenses down the line.
Mike Whiting, managing editor at Holiday Extras, said: "Our survey suggests that our customers, like everyone else, are feeling the effects of the credit crunch, and it is affecting their spending decisions.
"It is encouraging for us as an industry to see that, despite everything, taking time out for a holiday or short break remains high on our customers' priorities."
Last month, similar research by the Association of British Travel Agents (ABTA) indicated that Brits are still eager to travel overseas, despite the falling value of the pound.
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