Britons ‘borrow £9bn to pay for holidays’ - TravelMole


Britons ‘borrow £9bn to pay for holidays’

Saturday, 07 Sep, 2006 0

More than half of Britons use credit cards to pay for their holidays, collectively borrowing £9 billion, according to new research.

The average bill was £799, with 9% spending more than £1,001 and a further 5% spending over £2,001, the survey from moneysupermarket.com showed. Around 57% of Britons used credit cards for holidays.

Scots were found to be more cautious, spending £762 each, while people in the South spend £886, Yahoo! News reported.

Young people had an average bill of £549 compared to an average of £900 for the over-50s.

But 41% of cardholders fail to clear their balance each month and could collectively face a bill of £550 million by the end of the year, it was reported.

Report by Phil Davies 



 

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Phil Davies



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