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People are continuing to book holidays despite the rising cost of living in the UK, it has been claimed.

According to Multicom, a technology firm that specialises in travel search engines, holiday bookings via travel agents and online companies increased 40 per cent in the first three months of the year.

This is despite the rising costs of housing, transport, utilities and food in the UK.

Chris Nourse, general manager of Multicom, suggested that people have come to see holidays as a necessary expenditure and are not willing to forgo their annual trip.

'Years ago, holidays abroad were seen as a luxury for the few who could afford them,' he said.

'Now it seems they are being seen as more and more essential - even if people have less money in their pockets after paying bills.'

Mr Nourse also claimed that the travel industry could be 'less susceptible than had been previously thought' to the financial pressures that have hit the UK this year.

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