Tuesday, 14 February 2012
Are you going on holiday this year?
Go on, you deserve it. You are already on the internet, check out a travel website and find something sunny. Then whip out the credit card. You can afford it. It is only debt. It can be paid off any time.
That tempting line of thinking has become less popular. Before the the crisis, the credit card debt and summer holidays went together like strawberries and cream. These days it is more like sun tan lotion and beer bellies. Back in 2007, UK residents were making around 45 million trips abroad; in 2011, this figure had fallen to 36 million.
Hard times for the travel industry. What is more, there are few signs of a recovery.