New surveys predict downturn for travel trade

Two new surveys are suggesting that the credit crunch is beginning to influence consumers when it comes to choosing their holidays.

A survey released by Legal & General of 4,400 British adults has revealed that as many as 26% have changed their holiday plans due to growing financial uncertainty.
However, single parent families have been worst hit in this trend with 35% having to rethink any breaks.

Legal & General head of communications Ruth Wilkins said: “The research highlights just how much our homes and home life can change as a result of wider influences on our lives.”

Meanwhile a Populus poll undertaken on behalf of The Times over the weekend has revealed 58% of respondents are changing their holiday plans in the wake of rising costs.

The economic downturn is affecting different social groups differently. Just under half of professionals and managers are making holiday cutbacks as opposed to nearly two thirds of skilled labourers.

Worse yet 19% of respondents said they were cancelling their holidays altogether and this figure rises to 27% among unskilled labourers.

A further 41% of the public are reducing the length of time they are spending abroad  while 34% have decided to holiday in the UK as opposed to in foreign climes.

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