20% of Brits Cancel Their Holiday Plans

A new survey shows that 20% of Brits have cancelled their plans to go on holiday this year.

The survey of 2,000 people by online price savings site Savebuckets.com appears to contradict the survey earlier this week by kayak.co.uk which suggested that Brits were not prepared to sacrifice their summer holiday.

But Savebuckets.com insists: "the new research suggests the family summer holiday will be the credit crunch's next major victim". Marketing manager of Savebuckets.com, Marc Ames, comments "The fact that people feel they can't afford to go away for a break this year is a reflection of how difficult many families are finding it to make ends meet".

Those hardest hit by the credit crunch appear to be what Savebuckets.com refers to as 'middle agers,' people aged 35 to 44. Among this age group, 23% said they would not be going on holiday at all to save money, compared to 19% of 18 to 34 year olds and over 55's.

The survey also found that 12% of people will not go on an overseas holiday this year, but opt for a cheap UK break instead in order to save money. But 9% of those questioned said they would break into their savings in order to be able to pay for a holiday.

People living in Northern Ireland seem to be struggling the most to take a holiday this year. An alarming 28% said they would dip into their savings to finance a holiday. Londoners are the least concerned about the credit crunch - 46% said their financial situation has not changed for the worse this year, compared to the survey average of 59% who said they are now worse off.

Written by: Nick Purdom