The financial constraints facing millions of UK consumers is likely to see many set off a relatively-inexpensive city break holiday this year, it has been claimed.
According to the Post Office, journeys to cities in Europe become particularly popular during periods of economic turbulence, as was the case after what is now known as ‘Black Monday’ in autumn 1987.
With millions of people struggling to become debt free, the Post Office is convinced that many thousands of Britons will head to an urban area, such as Budapest, Riga and Dubrovnik, in search of a good time on a budget.
“After Black Monday many people had to cut back on expenditure and there was a strong growth trend in two or three night short breaks,” said head of travel at the Post Office Helen Warburton.
“UK holidaymakers may well follow the same route this year.”
A report last week from online banking group Cahoot claimed that British holidaymakers are spending millions of pounds each year on goods they regret buying when they return to the UK.