Tourism Industry News
Major shift in British holiday booking patterns caused by the economic downturn
The economic downturn and public anxiety, that it’s only going to get worse, is causing a major shift in British holiday booking patterns, says EssentialTravel.co.uk.
“Whereas in recent years people expected to book one, possibly two long holidays plus a couple of short breaks a year, ‘short-termism’ is now the major factor influencing Brits’ holiday choices”, says EssentialTravel.co.uk’s Head of Insurance Stuart Bensusan. "Short-termism’ is where travellers are too nervous to pay for an expensive summer holiday now, but are savvy enough to know that there are last-minute bargains to be had online. As a result they are more likely to book and travel at a moment’s notice."
EssentialTravel.co.uk has been increasingly aware of this phenomenon since November 2008, due to:
- A 60% increase in emails and telephone enquiries from policy holders asking about redundancy cover. Specifically they want to know whether they are covered if they lose their job and have to cancel their holiday.
- A 70% increase in travellers booking last-minute, single trip travel insurance.