'Holiday comes before cars, home and gadgets'
26 January 2009 10:04
People's holidays are not going to be prevented by the credit crunch, as they would rather go without a new car, home improvements or new electrical gadgets, an industry expert has stated in the Telegraph.
Peter Long, chief executive of TUI Travel, has said in the newspaper that there has been no deterioration in any area of the travel market, with the average number of customers booking a holiday and the number of cancellations remaining the same.
Mr Long told the Telegraph: "Customers are saying, 'life's more uncertain, I need that break in the sun, I'm going. I can put the DIY, new car or home entertainment system on hold'."
He added that the weak dollar has caused a rise in demand for the USA as a holiday destination, while other further away destinations such as Egypt and Mexico have also been targeted.
Although these longer-haul destinations will potentially cost more to visit, holidaymakers shouldn't put off taking out a travel insurance policy to cover their break.
Travel search engine kayak.co.uk found that 60 per cent of the people they surveyed refused to go without a holiday despite the credit crunch.