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Britons still taking holidays despite credit crunch
07 July 2008
British people are unwilling to give up their annual summer break despite the credit crunch, according to the Association of British Travel Agents (ABTA).
Research by ebookers.com revealed that just 12 per cent of Britons thought that holidays were a luxury even though the credit crunch was tightening household budgets, reported Travelmole.co.uk.
Sean Tipton, spokesperson for ABTA, said: "Bookings for this summer have been very healthy. It is fairly clear that 30 years ago a foreign holiday was regarded as luxury. It is now seen by the vast majority of our customers as a necessity not a luxury."
An increasing number of people are now willing to spend less on other leisure pursuits in order to be able to afford a summer holiday abroad, claims ABTA.
"People are much more likely to cut back on other aspects of their life rather than forego a summer holiday," said Mr Tipton.
Research by Gapyear.com revealed that 25 per cent of young holidaymakers travel either uninsured or underinsured.
