20% to cancel summer holiday over financial worries
30.04.08
A new survey suggests that the weakening economy and fears over the credit crunch has seen one in five people to cancel plans to go on holiday. The findings of the research from online comparison shopping service Savebuckets.com contradicts findings from Kayak.co.uk survey this week, which suggested that consumers would rather cut back on luxuries rather than give up their holiday.
The new Savebuckets research suggests the family summer holiday will be the credit crunch’s next major victim following price hikes for staples such as food and utilities in addition to slumping house values. The poll of 2,168 people on the impact the credit crunch is having on their monthly budget found that while 20% will not be going away, more than one in ten people (12%) will opt for a UK break to save money this year.
One in ten (9%) people are still determined to get away and will resort to breaking into their savings in order to pay for a holiday. Women are more likely to be watching the pennies and cancelling their holiday this year, with 23% deciding to stay at home in the UK with no break, compared to 16% of men, according to the findings.
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