14 July 2008
The vast majority of holidaymakers are using savings rather than borrowing to travel broad to top destinations such as Corsica.
A study by moneysupermarket has found six times more holidaymakers using savings rather than borrowing to fund holidays.
Kevin Mountford, head of savings at moneysupermarket.com, said: "With our 'buy now pay later' culture, I had expected the level of borrowing to fund holidays to be higher.
"It looks as though the credit crunch is making people more responsible when it comes to their money, which is a big silver lining for the current cloudy economic conditions."
