2008 News Archive - Holidays - Credit crunch leads to 'revival' of family holidays

01 10 2008

The credit crunch has led to the revival of traditional family holidays, it has been revealed.

With consumers keen to keep holiday costs low, an increasing number of holidaymakers are opting to travel with their parents and extended family.

A recent study by Saga found that almost half of people in their late 20s holiday with their parents.

Some of the reasons given for travelling in groups include lower accommodation costs and "childcare on tap".

Andrew Goodsell, chief executive of Saga, commented: "Everybody has different priorities when deciding who to go on holiday with. It is encouraging that a positive outcome of the credit crunch hitting younger travellers could be that families, including grandparents, are getting to spend more time together."

The research found that only 35 per cent of people go on holiday with just their partners.

In related news, a recent study by Abbey found that 15 million Britons are planning to jet off on a winter beach holiday this year.