ITT: Two in five families adjusting holiday plans in credit crunch
More than two in five families are adjusting their holiday plans as a result of the credit crunch.
Figures revealed at the Institute of Travel and Tourism Conference by newspaper publishing group News International suggested that 43% of families were rethinking their holidays, and were focusing much more on value for money.
More than a third (35%) are choosing to go away for a shorter period of time; 34% are choosing to stay in the UK; and 27% are changing their destination.
News International head of client development Claire Myerscough said: "The key for families is value, so it's important to include value in your pricing message."
She added that holidays were "a necessity" to many people, evidenced by 5% of the 3,000 survey participants choosing to take a holiday who hadn't taken a break last year.
News International's Consumer Eye research is carried out on a quarterly basis.
For more on the ITT Conference go to travelweekly.co.uk/itt2009