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Book Early to Avoid the Credit Crunch

Friday, 20 February 2009 14:49 by sandy

With lots of property owners worried about their being a lack of bookings this year, many have panicked and discounted heavily - was this drastic action really necessary? Invosoft has been doing some research around the world regarding people’s views on holidays and how they will be affected during the credit crunch. It makes interesting reading…….

A national survey in Australia on consumer sentiment reported that a third of Australians have had their holiday plans affected by the global economic crisis but no more than 12% say they had to cancel their holiday because of the credit crunch. For the Aussies in terms of disposable luxury items leading up to last Christmas their summer holiday escape ranked as next highest on the priority list, after paying for the core essentials such as the rent, mortgage, credit cards or shopping.

While here in the UK the financial slowdown has left many people tightening their belts, the obvious solution to save a few pennies would be to not to go on holiday this year, but evidence has shown the opposite, perhaps it is because of the dreary 2008 summer and the long winter months to get through that the thing to lift the doom and gloom would be to book the annual ski or summer holiday. Alongside this the holiday home owners seem to be reducing their prices for the next season, evidence has shown that to book early will result in achieving the best deals.

According to Sean Tipton from ABTA “The ski market is by far the most resilient in the travel sector,” “Even after September 2001 when there was widespread panic in the travel industry, while everybody else went down, the ski market went up. It was the only market that did.” So, it appears that even in a credit crunch, to get the best prices and the chalet you want in the resort of your choice, it does pays to book early.

The shaky economy might seem a good reason to put off your holidays for this season or to wait for last minute deals, but again evidence has shown that many holiday villa owners have been surprised at the number of bookings already received and to bag the best villas, it's actually made it more important than ever to book early.

In these trouble economic times our research conducted in Europe showed that the Europeans were keeping holidays in mind and that they are more important than ever due to the stressful impact of the credit crunch. However, many thought that they would take advantage of the weak pound and holiday in UK. Good news for the Brits.

Our research paints an optimistic picture; there is still the passion for holidays and spending quality time with family and friends.

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