New research from the Association of British Travel Agents (ABTA) has suggested that Britons are unwilling to give up their holidays despite the effects of the credit crunch.

With the rising cost of living increasingly squeezing households' finances, many families are being forced to change their lifestyle to ride out the current downturn.

However, it would appear that cutting back on that much-needed summer trip is not something that merits consideration.

The ABTA study showed that over half of those questioned view a holiday as a necessity rather than a luxury and, furthermore, that they would spend less on nights out, clothes and food to compensate.

ABTA spokesman Sean Tipton said: "People are much more likely to cut back on other aspects of their life rather than forego a summer holiday - especially when we are in a situation which is potentially quite depressing.

"One way to escape the current economic gloom is to take a foreign holiday to go abroad. If you look at the bookings our members are taking they are very healthy."

With money remaining tight in the current climate, people determined to pursue their holiday plans would be wise to secure travel insurance to avoid incurring extra costs if injuries or illness strike when they are abroad.

New research from the Association of British Travel Agents (ABTA) has suggested that Britons are unwilling to give up their holidays despite the effects of the credit crunch.

With the rising cost of living increasingly squeezing households' finances, many families are being forced to change their lifestyle to ride out the current downturn.

However, it would appear that cutting back on that much-needed summer trip is not something that merits consideration.

The ABTA study showed that over half of those questioned view a holiday as a necessity rather than a luxury and, furthermore, that they would spend less on nights out, clothes and food to compensate.

ABTA spokesman Sean Tipton said: "People are much more likely to cut back on other aspects of their life rather than forego a summer holiday - especially when we are in a situation which is potentially quite depressing.

"One way to escape the current economic gloom is to take a foreign holiday to go abroad. If you look at the bookings our members are taking they are very healthy."

With money remaining tight in the current climate, people determined to pursue their holiday plans would be wise to secure travel insurance to avoid incurring extra costs if injuries or illness strike when they are abroad.