Credit Crunch Takes Chunk out of Holiday Treats

Cost conscious holidaymakers are booking cheaper hotels and planning fewer days out and activities to save cash, according to a new study.

More than a third of 1,500 people polled by online travel agency On the Beach planned to downgrade their hotel this year, while half said they would cut back on excursions, water sports and trips to theme parks.

Almost a third said they would take just one week away this summer instead of the traditional two-week break. Only one in 10 people said they planned to spend more time away this year than last.

The majority said they would be travelling beyond the Continent to non-European destinations, where the pound goes much further.

On the Beach chief executive Simon Cooper said: The stress and pressure of the credit crunch, means that now more than ever we all need time out to relax and unwind and it's great to see consumers are taking a sensible approach to holidays, spending what they can afford and carefully managing their budgets.

Holidaymakers can also save money on insurance by shopping around online. Insurewithease cover starts at just £10.28 for a family of four travelling to the Mediterranean for a week this summer ? that's comprehensive cover and complete peace of mind for less than the cost of a round of ice-creams.

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