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Consumers 'will miss out on holidays'

By Marianne Straker, Wed 28 May 2008 - Published in Home Insurance

An increasing number of consumers will be missing out on family holidays this year because of the effects of the credit crunch, an expert has argued.

John McDonald, a spokesperson for the Family Holiday Association, said that more families will struggle to take a break this year because of the increasing pressures on their finances.

"It is a disappointment that perhaps more people will miss out this year than perhaps did last year. It is a huge problem, no matter if there is a credit crunch or not," said Mr McDonald.

Research conducted by Abbey Credit Cards earlier this month found that families planning on taking a break during the half-term holiday could be hit with price premiums of up to 80 per cent over average costs.

The survey also found that families choosing to holiday in the UK will also face inflated costs, although they will probably pay less than those going abroad.