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The credit crunch is yet to have an effect on the holiday plans of the majority of British people, according to research.

A survey by e-commerce supplier Avail Intelligence found that more than half (57%) of people are not planning to change their holiday plans this summer as a result of financial problems.

Nearly one in five (17%) respondents even said they are planning to spend more on their summer getaways this year.

The survey found that most Brits are reluctant to cut back on luxury items such as holidays, clothes and electronic goods, with only 17% saying they plan to spend less on these indulgences.

Economic factors such as food prices and interest rates appear to be causing more anxiety, however, with just under half of respondents saying they are concerned about these issues.

Rolf Elmer, chief executive of Avail Intelligence, said: 'There's been so much speculation about consumer spending and the credit crunch – so it's interesting to see that luxury items are still such a priority.

'However, more basic issues like [interest] rates and food prices – and more recently energy bills – have inevitably affected consumer confidence.'

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