Will you be going on holiday this summer?
June 21st, 2011 by elisa

Will you be going on holiday this summer? Or, like two in five Britons, will you be staying at home to save money?

2000 people responded to a poll by banking and finance giant ING Direct, 39% of which stated that they wouldn’t be taking a summer holiday this year. When the credit crunch started to bite in 2008 only 33% said they were going to stay at home suggesting that things have got progressively worse.

The research showed that nine out of ten people who said they weren’t going on holiday this summer would normally have taken a UK holiday anyway, showing that perhaps the staycation isn’t as popular as has previously been thought.

Another thing that the survey seems to have revealed is the way people approach their money now, with holidaymakers much more likely to save for their vacations instead of sticking it on a credit card to pay back with high interest later.

ING Direct spokesman Richard Doe said: “It’s clear that a tough economic climate is causing consumers to pull off a very difficult balancing act – cutting down on debt while dealing with rising prices.

“So it’s not surprising that the summer holiday is often being sacrificed. However, it is certainly a good thing that consumers are adopting a more sensible approach to holiday planning, saving in advance for their trips, rather than entirely relying on the plastic.”


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