Saving Money, But Holidays Stay?
Research from Visit Britain last week suggested that people might be cutting back on many things but a holiday is increasingly seen as protected.
Well the research showed that people said they were cutting back on food (77%), fuel (69%) and clothes (64%). Only 48% of us were intending to, or had, cut back on holidays.
Is this hype or are we increasingly viewing our holiday as sacrosanct?
In any survey being asked during times like today people are likely to say they will cut back. The surprise is then that people felt they would cut back on other items before holidays. Two of the things picked are items where there has been noticeable price increases (food and fuel). The third (clothing) is an item where you may buy something and not necessarily wear it when you get it home. Everyone has something in their wardrobe (or so it is claimed) that never gets worn. As well as this people feel that they can eke out what clothes they have a little longer.
But not holidays; they either happen or they don’t.
It doesn’t appear that those being interviewed were asked about why they weren’t going to cut back on holiday plans. It is widely assumed that people will just trade down ( say from 4 star to 3) or go to places where the pound hasn’t fallen as much against the local currency (say Egypt,Bulgaria, Turkey and Tunisia), or stay at home.
But all the people selling holidays don’t really know what will happen and this is what is concerning them. They are assuming now that there will be a last minute rush and that some overseas destinations will pick up. The one thing they do seem positive about is that we will take a holiday regardless of what we say now.
So be prepared after Easter and into the late spring for a flurry of advertising to get you to book for the summer