New research has revealed that a third of Britons will get into debt problems so that they are able to go on their annual holiday.
According to the study by insurer Bright Grey 32% of people will use credit cards, a travel agent payment plan or by taking out a loan from friends.
The survey found that on average a person will borrow over £1,200 to fund their holidays and more than half admitted that they wouldn’t be able to immediately repay the money.
Despite suffering debt problems to be able to take a holiday 13% of those asked said that they needed to be seen by their friends to go on a yearly holiday.
The recession does seem to have made an impact on British holidays however, with nearly a third of people saying that their main holiday will be in the UK this year, whilst holidays abroad have been limited to less than 10 days on average.
Only one tenth of people said that they would be jetting off to sunnier shores on a long haul holiday.
Director at Bright Grey, Roger Edwards, said: “Getting away on holiday can be a high point of the year for many people, however with one in three borrowing to pay for their getaway, it is important to make sure they don’t end up with a financial holiday hangover on their return.”
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