Crunch fails to dent holiday funds

| September 6, 2009 | 0 Comments

Four in five Brits are putting money aside for a holiday despite the recession, research by Halifax discovered.

The poll found 84% of UK adults are maintaining a holiday savings habit, almost double the 44% who said they were saving towards holidays in pre-recession studies.

Nearly three quarters (72%) of Brits said they’d funded or part-funded their holiday this year from savings, compared to 27% who paid for their break on a credit card.

Almost half (49%) of those polled said they’re planning their next holiday in the UK rather than overseas.

A similar number (49%) said they prefer to fund their holiday from savings because it means they don’t have to worry about finances while away from home.

“It is great to see that so many people are saving towards their annual holiday which should give them a real sense of achievement on a well deserved vacation,” said Flavia Palacios Umama, Halifax head of savings.

“This leaves them free to enjoy the sunshine and not worry about a financial holiday hangover when they get home.”

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