Holidays ‘affected by credit crunch’

Posted 2008-05-29

The number of people taking holidays abroad is likely to fall due to the impact of the credit crunch, it has emerged.

According to the Family Holiday Association, fewer families than last year will be able to afford to take a trip abroad due to other strains on their finances, such as food prices and utility bills.

John McDonald, the director of the association, said that it was a shame that people would miss out on a summer break, adding: "I think holidays are really important for the wellbeing of both the children and the parents, the family unit and the local community and society in general."

"Its a huge problem," he concluded.

Recent research by Abbey Credit Cards highlighted that parents who planned to jet off a half-term holiday during the recent break were hit by premiums of up to 80 per cent.

This follows news from Alliance and Leicester that almost 35 million Brits have made a cutback in their spending to help them cope with inflated living costs.

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