Credit crunch makes holidays ‘more important than ever’
People are prepared to cut back on drinking and eating out during the current financial turmoil in order to save up for their holiday, a new study shows.
A quarter say they are adapting their weekly expenditure and compromising on nights out in the short term, according to the poll of more than 1,500 Britons for lastminute.com.
Almost half (44%) are prepared to put up with a less comfortable travelling experience such as minimal legroom on budget airlines to esure they get away and more than a quarter are now more prepared to take inconvenient connecting flights to make their holiday affordable.
One in eight of parenst admit to taking their children out of school during term time to take advantage of cheaper holiday prices.
The study also found that a quarter of consumers view their holiday as more important than ever due to the credit crunch.
Thirty five per cent said that future holidays are helping to “motivate†them through the current tough times.
And 44% of people said the internet had made them more spontaneous with holiday bookings across all age groups, with 14% booking a holiday online within a week or less to departure.
A third believe they are more adventurous about where they go on holiday than they were a decade ago due to internet booking.
Meanwhile, almost a quarter (23%) say they are bored with the standard package holiday and look for more adventure in their holidays now.
Lastminute.com managing director John Bevan said the company’s use of dynamic packaging was enabling it to respond to demand for shorter duration breaks as people look for more affordable flights and accommodation options.
“Dynamic packaging gives the consumer flexibility so they can choose their length of stay. For example, travelling out on a Tuesday and returning on a Saturday would work out cheaper,†he said.
Bevan said the research, conducted to mark the online company’s 10th anniversary, showed that people were keeping holidays in “front of mind†despite the impact of the credit crunch.
“In these troubled economic times, our research shows that holidays are more important than ever,†he said.
“This study clearly shows how British attitudes to holidaymaking have changed over the last 10 years – but at the heart of it, booking holidays is still the main way Britons brighten up their lives and give themselves something to look forward to.â€Â  Â
by Phil Davies
Phil Davies
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airbnb eyes a loyalty program but details remain under wraps
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026