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Newsletter

Brits 'would rather take out a loan than abandon the idea of a summer holiday'

By Sarah Engle, Tue 8 Jul 2008 - Published in Loans

With new research revealing one in ten young families are prepared to take out loans to cover the cost of going away, it would seem Brits are unwilling to sacrifice their summer holiday no matter how gloomy the economic climate.

Commenting on the results of the survey conducted by ebookers.com and reported on Travelmole.co.uk, the Association of British Travel Agents (ABTA) agreed people in the UK view their annual trip as a necessity rather than a luxury.

Sean Tipton from the ABTA said: "One way to escape the current economic gloom is to take a foreign holiday … If you look at the bookings our members are taking, they are very healthy."

The ebookers.com poll found more than half of those questioned consider a holiday either important or absolutely necessary.

It also revealed people would rather cut back on nights out, supermarket luxuries and clothes rather than stay at home all summer.