Brits cut back on everything but holidays
A holiday is the last thing British consumers would look to sacrifice in these tough financial times. One in five sees these breaks as a necessity rather than a luxury, according to new research.
Four out of ten Brits (37%) said that a holiday is the thing they would be least willing to cut back on, with 35% of men and 38% of women thinking in this way.
As the 2011 ABTA Consumer Trends survey revealed, other activities that Brits would not like to cut back on including eating out throughout the year (20%), leisure activities such as cinemas or concerts, buying new electronic gadgets (15%) or spending money on home improvements (12%).
One in five Brits are so keen on their foreign breaks that they regard a longer trip overseas as a real necessity they couldn't do without. One in four people, see a short break in the UK as equally vital.
Furthermore, research shows that older generations value their holiday time more than their younger counterparts. While 27% of 15-24 year olds are not prepared to cut back, up to 43% of the over 65s admit they wouldn’t sacrifice their holiday to save money.
"Consumers have been telling us for years just how important their holidays are. In tough economic times we all have to think of ways in which we can tighten our belts but it is very reassuring for the industry to hear that holidays are the least popular choice for the chop and for many, something they simply cannot live without,” said Victoria Bacon ABTA Head of Communications.
The fact that British consumers would go on holiday in tough economic times doesn’t mean that they don’t care about the money they spend. Fortunately, there are some products that can help them to save money even when on holiday. Travel money cards are a great idea in these circumstances. They are prepaid cards with no charges for foreign transactions or for withdrawing cash abroad.