World4Traveler

Summer holidays sales surge prompted by 'sod it' factor

Summer holiday sales are surging as people say 'sod it' to the credit crunch, according to a leading travel agency group. Global Travel Group reports a 10% increase in sales and a 15% rise in the average selling price of holidays for this summer, compared with the same period last year. People are buying more holidays and paying more for their trips – particularly for luxury breaks - despite a slowdown in the economy and a rise in household bills and mortgage rates. Dave Clayton, commercial director for the group, which has 700 high street members, said: "Holidaymakers are having to accept that their bills will rise but, as research shows, the one thing they are not prepared to go without is a holiday.

"People are saying 'sod it', I'm going away. At the other end of the scale, the people who are buying luxury trips are not really affected by the credit crunch." But he agreed with other industry commentators who have warned there are tougher times ahead. "Next year, more capacity will be taken out of the market, which will naturally push up prices and affect demand," he said. "Also, tour operators will put up their prices because of the rising cost of fuel and people will have less money in their pockets. "It's a boom time at the moment but we have to plan for more challenging times ahead because it would be careless to think this will continue in the longer term."

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