Brits Show Determination To Go On Holiday

In spite of the current difficulties being experienced in the financial markets and the fact that many are struggling with spending, a significant number of people are still determined to go away on holiday this year, it has been revealed.

A study carried out by online travel firm ebookers reveals that the majority of Britons believe that having a vacation is something that is crucial to them and as such refuse to give it up. Indeed, of the 1,003 people the company questioned as a part of its research, over half of respondents view an annual break as something which is either “absolutely necessary” or at the very least is important. However, a slightly more austere 12 per cent of Britons believe that going abroad is something that is a luxury.

For consumers looking for an effective means to finance a holiday taking out a low rate loan might be a recommended way in which to meet the numerous costs related to going away.

However, that is not to say that the impact of the credit crunch and overall weakened monetary climate is not having any effect on consumers’ travel intentions. Some 51 per cent of young families believe that the economic slowdown will have an influence on their holiday choices, with 39 per cent of older households also thinking the credit crunch is to have a bearing on where they go for their vacation.

Meanwhile, it was indicated that many people are prepared to cut back on their day-to-day expenditure in order to save up enough money to go away. According to the firm consumers are willing to reduce their spending on luxury items such as magazines, gym memberships and DVDs, take public transport more often and take a homemade lunch to work rather than paying money to eat out. Going out at night less often and buying fewer clothes were also cited as ways in which to cut back on spending in the build-up to going away.

Commenting on the figures, Ciaran Lally, managing director at ebookers, said: “Just a generation ago holidays were an extravagance, especially trips abroad. Now though, even as many people said they are already tightening the purse strings, people treat holidays as an almost necessary part of their existence. We’ve also found out that people are making changes in other aspects of their lives - saving money where they can - in part to protect their holidays. Plus where they go still matters.”

The study also revealed young families are in particular looking towards borrowing money in order to supplement spending on their holiday. Around one out of ten consumers state that they would consider applying for a loan in order to meet the cost of going on a break, with a fifth thinking about going into their overdraft.

In meeting the various expenses attached to going abroad - which may for instance include flights, accommodation and spending money - taking out a low-cost personal loan might be of assistance. This may mean that borrowers are able to go on the break of their dreams and are left with an affordable rate of monthly repayments to make. Getting a loan could also be recommended for budding chefs after a recent study by Halifax showed that billion of pounds are spent on kitchen gadgets such as blenders, toasters and blowtorches each year. However, a significant proportion of these were indicated as never being used.

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