Christmas holidays out as Britons opt to stay at home
New research has shown that more Britons are choosing to stay at home over the Christmas period due to the financial crisis.
The study by the AA found that nearly a fifth of those who travelled last Christmas have decided to stay at home this year.
As well as the economic crisis putting pressure on British consumers, the falling value of the pound has meant that travelling abroad is more expensive compared with last year, in real terms.
A spokesperson for debt management company Gregory Pennington said: “Holidays are one of the biggest burdens on the average consumer’s finances, despite being an inessential cost, so it’s no surprise that the number of people going on holiday has fallen.
“Our advice to anyone considering a holiday but risking falling into debt is to hold back – the money saved could be very useful as the economic crisis progresses.”