People avoiding foreign holidays over debt fears

Wed, 06 Jun 2012

It appears a high number of Britons are avoiding holidays abroad this year due to mounting worries.

New research from M&S Money has revealed 54 per cent of Brits have decided to remain in the UK over the summer months rather than jetting off to sunnier climes overseas.

And according to the investigation, 26 per cent of this group admitted they are choosing to take a trip to elsewhere in their home nation because they believe it will be a cheaper option than vacationing in another part of the world.

Jane Lawson, head of travel money at M&S Money - which is the trading name of Marks and Spencer Financial Services - said: "Staycations are clearly popular this year, particularly as people look forward to celebrating the Jubilee and Olympics, in what will be a British summer to remember."

But despite plans of heading abroad seemingly being shelved due to fears over debts and stretched budgets, the research revealed the cost of a break in London was 25 per cent more expensive than the average beach holiday in another country.
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