Half of Brits plan to holiday at home

More than 50% of Brits are planning to holiday in the UK this year in order to save money as a result of the credit crunch, according to leading travel insurance specialist, Preferential.

The company carried out at a survey of their customers to find out if their holiday plans had been affected by the credit crunch this year, in its first annual survey of holiday trends.

As part of the survey, they were asked: “Are you planning on saving money by taking your main holiday in the UK this year?” And the responses were:

Yes (50%)
No, I’m still going abroad (30%)
I’m going abroad, but it’s my only holiday this year (5%)
My holiday budget has not been affected by the credit crunch (15%)

The results also showed that there is less emphasis on booking early to get the best deal. Respondents were asked: Do you think you get a better deal on your summer holiday if you – Book Early (37%), Book Last Minute (25%) or, alternatively ‘I book when I’m ready and don’t really think about it’ (38%).

However, over 80% of those surveyed said they would not sacrifice their travel insurance to save money and 15% said that their holiday budget would not be affected by the credit crunch.

Commenting on the findings, Steve Nickerson, managing director at Preferential, says, “Despite the credit crunch, our survey shows that travel insurance is still a high requirement during these unstable times. And it is also clear that 15% of people are not impacted in their holiday spending at all.”

Preferential’s Annual Multi Trip travel insurance automatically covers you for UK short breaks of over two nights in pre booked accommodation free of charge. Priced from just £20.42 for a year’s European AMT.

For award-winning travel insurance from the specialists go to preferential.co.uk.