10 December 2008

Credit crunch ââ¬Ëœto hit overseas breaksââ¬â¢

People could start abandoning overseas holidays provided that domestic alternatives offer good value and quality, according to new research.

Short breaks abroad are the holiday type most likely to be sacrificed altogether due to the economic downturn, with fewer feeling driven to cut out UK breaks and holidays although there is widespread desire to save money.

The study shows that while 90% of the population claim they are cutting down on spending, less than half (45%) are planning to cut back on holidays, breaks or day trips.

Rather, Britons are planning to reduce the amount spent on lower value, high frequency purchases such as food (80%), fuel (74%), clothes (67%) and entertainment or ââ¬Ëœlittle luxuriesââ¬â¢ (67%).

The research for VisitBritain and Visit London suggests that taking a break is so strongly valued as an important ââ¬Ëœstress-busterââ¬â¢ that it is often the last thing to be sacrificed.

And there are opportunities to promote holidays at home if they are thought to be a quality experience at a good value price.

This might mean abandoning the usual holiday overseas for some people, not least because of concerns over the value of current exchange rates against the pound and the dollar.

The study found that around 20% of those who took a foreign holiday last year plan to save money by choosing the UK instead.

More than half (51%) are ââ¬Ëœput offââ¬â¢ travelling abroad by the belief that flight costs are rising.

Thirty six per cent are concerned about the ââ¬Ëœunpredictabilityââ¬â¢ of tour operators following the collapse of XL Leisure Group in September.

VisitBritainââ¬â¢s England marketing division plans a ââ¬Ëœvalue-for-moneyââ¬â¢ campaign in the new year with hundreds of offers and deals on accommodation, attractions and experiences available on its website enjoyengland.com

VisitBritainââ¬â¢s Britain marketing director Mike Bedingfield said:
ââ¬ÅâœAs the research shows we are reluctant to give up the holidays that are an increasingly important part of our lives.

ââ¬ÅâœHowever, the economic downturn is likely to affect the kinds of holidays we take, whether here in the UK or overseas, and the length of these.

ââ¬ÅâœNow is the time to be investing in marketing campaigns to remind consumers of the value-for-money experiences they can enjoy through innovative marketing.ââ¬~

Visit London marketing director Martine Ainsworth-Wells said:
ââ¬ÅâœDespite undoubtedly tough times ahead, there are still major opportunities to promote the capital across the UK.

ââ¬ÅâœThis is a time to hit the accelerator, not the brake. That is why Visit London has just launched a four-month major programme of activity to sell our message throughout the world, following a Ã&#pound;750,000 funding boost from the Mayor.ââ¬~

by Phil Davies 

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