Spiralling living costs and the ongoing battle to become debt free are causing many Britons to rethink their holiday plans, it has been claimed.
FairFX.com, a provider of pre-paid currency cards, recently polled cash-strapped holidaymakers and found that 57 per cent will spend less either on or during their holidays this year.
Outgoings are the major factor in this respect, with 55 per cent of respondents revealing domestic spending will curtail their holiday funds.
Stephen Heath, chief executive of FairFX.com, said such costs – coupled with the effects of the credit crunch – are forcing people in the UK into this position.
“Understandably, basic housekeeping costs are a bigger priority for families, but many people will be disappointed to have to cut back just when they could do with a little sun and relaxation,” he commented.
Recent research by Abbey found that parents will be hit the hardest by holiday spending due to peak-season premiums.
By Neil Condron