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Luxury Holidays Still Popular During Recession
Luxury holidays "still popular during recession" by Cheap Flights Booker UK
The recession has not stopped consumers from taking luxury holidays, according to new research.
PricewaterhouseCoopers (PWC) surveyed more than 7,000 luxury club members about their plans to cut back during the economic downturn, with less than a fifth (18%) saying they would spend less on their main holiday.
Travel came ninth in the list of items respondents were willing to cut back on, behind designer labels, electronic goods, restaurant meals and other expenses.
Guy Dillon, leisure director at PWC, said: "The difficult economic climate has led all customer demographics to reassess their travel habits. The high net worth individuals are not moving to packaging or changing length of stay, but they are utilising the internet to scour the landscape for the right deal and right location at the right price.
"While some of these changes may be temporary, the "buying clever" trend is here to stay."
The professional services firm also noted a rise in the popularity of mid-haul holidays over the past year and predicted that Africa will have "a strong 2010".
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