Will travel spending by Brits dip in 2008?
Thursday, January 24th, 2008Welcome to my blog, you may want to subscribe to my RSS feed. Thanks for visiting!
I was certainly aware of rising prices in the last week, Diesel had gone up another one pence a litre to £1.07 when I filled my car, I read that British Gas were increasing their prices by 15% and in the supermarket a 4 pint container of milk costing around £1 a few months ago now costs around £1.45.
The World Travel and Tourism Council is predicting that globally travel will continue to increase but probably at lower rate than in recent years. They do acknowledge that high energy prices reduce households disposable income and increase fuel costs for carriers.
I’m not sure, it could go either way in the UK. People could think that they going to have their holidays come hell or high water, even if it means putting on the credit card and/or reducing spending in other leisure activities. Or all the inflationary pressures plus the anticipated fall in the value of UK property could all prove too much and travel could have to be curtailed.
There are different ways to cut travel expenditure. If you take several holidays a year, you can reduce the number of trips. You could go for a shorter holiday or downscale your accommodation grade to cut costs. You could take more holidays in the UK or stick to Europe to trim transportation costs.
What do you think? Are you reviewing your travel plans as part of a household budget review?









