Holidays are the number one priority for British adults over the next 12 months, with one in four (23%) planning to go on a major foreign holiday and almost as many (22%) planning a short break, according to a new survey.
The poll of 1,000 people was conducted by research firm Mintel as part of its latest British Lifestyles report, which also shows that the amount British consumers spent on domestic holidays grew by 20% between 2002 and 2006 to represent a market worth £9.8 billion.
Brits spent even more on overseas holidays, with spend up by over a quarter (28%) over the four-year period to £23.8 billion and long-haul foreign holidays the fastest growing segment, with total spend growing 41% over the period to £8 billion.
Although Mintel analyst Neil Mason said “a degree of caution” was creeping into the consumer economy, which would result in a slower rate of growth in the second half of 2007, the travel market was unlikely to be badly hit as “British consumers see holidays as a necessity rather than a luxury”.