Brits cautious when it comes to travel
23 January 2009 17:57
The number of Brits travelling abroad may have dipped this year, because of the increasing financial pressure facing many holidaymakers.
That is one of the conclusions to be drawn from new figures released by education, leisure and activity travel group Holidaybreak, which announced a pre-tax profit drop of £40 million in the 12 months to September.
Carl Michel, chief executive of the group, said that overall trading performance for the year was disappointing, and had failed to live up to initial expectations as more people stayed at home.
But just because people may be cutting their holiday budgets, travel insurance is no less important for those who do decide to go abroad.
Earlier this month, spend figures from the Office of National Statistics revealed that people started spending less on package holidays before the full effect of the credit crunch was known.
However, the Association of British Travel Agents claimed recently that Brits will continue to travel abroad but be more cautious in their choice of destination; foregoing exotic long-haul flights for cheaper breaks closer to home.