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Holidays still high priority for UK consumers
UK consumers will continue to save cash for their annual holidays in 2009, but at the expense of short breaks and pub and restaurant visits, according to PricewaterhouseCoopers (PwC).
According to a survey launched in April, consumers ranked holidays and short breaks as the two top spending priorities for 2008, six places higher than debt repayment.
When PwC asked the same question in November, consumers said debt repayment was the most important (20 per cent), but large holidays came in second (16 per cent).
However, only 1 per cent said they would prioritise eating and drinking out, which fell eight places from fourth in April, to 12th in November.
Malcolm Preston, head of travel at PwC, said: “During the boom era we would expect to see a far higher proportion of people prioritising travel and holidays, so undoubtedly the industry is not immune to the downturn.
“However, these results show the UK consumer is still set of escaping the recession depression and refuse to sacrifice the summer or family holiday.”
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