Travel plans suffering in recession

Posted: 08 Apr 2009 13:22:24 GMT

Brits are beginning to make cut backs in a range of areas as the recession deepens, according to recent research.

A study into how Brits intend to spend their cash found that as many as 22 per cent claimed they will not be leaving the UK this year.

Published yesterday (April 7th), the results from the Association of Investment Companies (AIC) differentiate between the general public and active investors.

Almost half of the general public (ie not active investors) plan to reduce the amount they spend on holidays this year.

Such statistics could say much about the probability of property transactions rising, as with few Brits planning on treating themselves to luxurious holidays there may be fewer Brits ready to invest in a new home.

A statement from the AIC said: "The survey also revealed that both active investors and the general public are tightening their belts and saving more than before at the moment.

"Some 40 per cent of active investors and 34 per cent of the general public said that the credit crunch and the recession had led them to decrease their spending and save more each month where possible."


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