Britons unwilling to relinquish holiday despite credit crunch

Britons would rather spend less on everyday luxuries than deny themselves an annual holiday, despite the credit crunch, fear of negative housing equity and rising food and fuel costs, a survey shows.

Only 2 percent of 1,000 people polled said they would consider cancelling their holiday to help make ends meet.

Instead, more than a third would ditch dining out, the same proportion would give up shopping for clothes or household items, and 14 percent would cut down on smoking or give up drinking at the pub.

The survey, by online travel company Kayak.co.uk, also found that, for 95 percent of Britons, taking a holiday at least once a year is more important to their overall happiness than owning a home (73 percent), being in a relationship (63 percent), having a car (47 percent) or starting a family (42 percent).

Annie Wilson, business development director of Kayak.co.uk, said: "As a nation, we've always been much more likely to explore the four corners of the earth than to buy the latest flat screen TV.

"Budget-conscious travellers willing to be flexible and spend time researching dates and destinations can still find the perfect trip at the right price."

Travelling further afield than Europe - to places that trade in the U.S. dollar - could help Britons make their pounds go further, the website added.