Budget-conscious Britons are spending less on luxury items to make sure they can afford a holiday, new research has revealed.

According to Kayak.co.uk, 95 per cent of people in the UK consider going on holiday more important that owning a home, being in a relationship or having a car, reports Reuters.

Therefore, people affected by the ongoing downturn in the British economy are cutting back in some areas in order to pay for a trip overseas.

Annie Wilson, business development director at the website, commented: “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.”

She added that if financially prudent consumers are prepared to be flexible, they could still find “the perfect trip” at a reasonable price.

Earlier this week, the Association of British Travel Agents stated that the number of bookings for this summer has been very healthy.

Tags: holidays, Leisure, tourism