One in five Brits have cancelled their plans to go on holiday as a result of the economic downturn, a survey by Savebuckets.com has revealed.
Price hikes on staples such as food and utilities have left holidays low on the list of priorities, said the price comparison site.
While one in five will not be going away, more than one in ten will be opting for a UK rather than overseas break to save money. One in ten will resort to breaking into their savings to pay for a holiday.
Six percent of the 2,000 people questioned said they would choose a cheap package holiday and spend less than they did on last year’s holiday, and 5% said they would go on a one week break when they would normally take a longer one.
Women are more likely to watch their spending, with 23% deciding to stay at home compared to 16% of men. Those living in Northern Ireland are struggling the most, as 18% decide not to go on holiday. Least concerned are Londoners, with 46% saying their financial situation has not changed for the worse.