Opodo travel news
Credit crunch not stopping Brits taking holidays
27 May 2008
Holidaymakers from the UK are still determined to go abroad despite uncertain economic times, according to reports.
Spending on leisure time and luxuries such as dining out, going to the cinema and hairdresser has decline to a seven year low according to research by the CBI.
Ian McCafferty, the CBI's chief economic adviser said: 'Consumers are reining in spending on leisure, entertainment and eating out.'
Despite the credit crunch, the demand for holidays has not reduced and people are still wanting to travel despite increasing food costs and higher mortgage payments.
'Travel companies reported healthy demand for holidays in the past three months, with people more inclined to take a well-earned break as rising costs put greater demands on household spending,' said Mr McCafferty.
With rising fuel costs set to restrict the number of cheap flight deals available British holidaymakers may have to settle for domestic holidays in the future as household budgets tighten further.
Opodo cheap flights, hotels and car hire - let the journey begin!
Spending on leisure time and luxuries such as dining out, going to the cinema and hairdresser has decline to a seven year low according to research by the CBI.
Ian McCafferty, the CBI's chief economic adviser said: 'Consumers are reining in spending on leisure, entertainment and eating out.'
Despite the credit crunch, the demand for holidays has not reduced and people are still wanting to travel despite increasing food costs and higher mortgage payments.
'Travel companies reported healthy demand for holidays in the past three months, with people more inclined to take a well-earned break as rising costs put greater demands on household spending,' said Mr McCafferty.
With rising fuel costs set to restrict the number of cheap flight deals available British holidaymakers may have to settle for domestic holidays in the future as household budgets tighten further.
Opodo cheap flights, hotels and car hire - let the journey begin!
Archive
Quick search
News by categories
Latest news
