Brits Likely to Travel As Recession Comes to an End

Reports suggest that nearly a fifth of British travelers say that they are much more likely to go on holiday in the coming year than they were six months ago. The survey of more than 2,000 people comes as Britain exits the worst recession for decades. The results of coming out of this recession will likely see more Brits traveling.

Overall, this is great news for the travel industry as a whole. It is still going to be hard to predict what is going to happen this year, and most notably this coming summer, but overall, it will likely be a much better year this year than it was in 2009.

Last year saw the end of many companies including Globespan and its subsidiary airline Flyglobespan. This has, of course, prompted predictions that may other travel industry companies will fall before they see a turnaround in profits.

The financial analysts, Plimsoll Publishing, claimed that the recession has cost British tour firms around £2.1 billion in lost profits. They have also predicted that more than 300 travel companies could go bankrupt or be taken over this year.

The survey did indicate that many Britons were likely to head overseas as the recession comes to an end. However, it also suggests that they will take less spending money when they go. The average holiday spending money, per person, per week dropped from £312 to £295 in the last six months. Londoners carry the most money with them, taking on average £331. East Anglians appear to be the thriftiest group, as they only take about £236.