A poll funded by ING Direct of 1,300 people in the UK has found that 39% of those surveyed will not be taking a holiday this year, 18 million will stay at home this year, 2.7 million more than in 2008 in the summer immediately following the banking crisis.
And 88% of those not taking a holiday over the last three years are those who would have holidayed in the UK.
This year 36% of Britons are planning to pay for their holiday from savings, up from 30% in 2010.
Consumer spending shrank 0.6% in Q1 accorjing to the ONS and over the same period, public confidence in spending power, income prospects
and job market outlook also fell, according to the latest data from the ING
Direct Consumer Savings Monitor.
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