London: Over 18 million Britons have decided to put off their holidaying plans this summer due to money crunch, says a media report.
Squeezed by the recession, nearly four in 10 families say that a getaway is no longer within their means, Daily Express reported Tuesday.
British resorts will be hard hit, with 39 percent of those questioned in a survey saying they will remain at home this summer.
Those who can afford to get away are likely to curtail their spending sharply and save all year for their trip rather than paying for it on credit cards.
Over half of holidaymakers say they will spend less than usual, eating in, missing out on excursions and not buying souvenirs.
Families, who might have traditionally booked up a two-week Mediterranean holiday, are choosing shorter breaks and opting for cheaper all-inclusive deals, which include flights, accommodation, meals and drinks and can save a party of four more than 500 pounds a week.
Nearly 90 percent of those forfeiting a holiday said they would usually have taken their break somewhere in Britain.
The research, based on a poll of 2,000 people, revealed that the number of Britons taking a summer holiday has fallen sharply over the last three years - with 2.7 million lesser people opting a summer break this year than in 2008.
"Consumers are watching their budgets very carefully and at the moment are inclined to postpone non-essential purchases as worries about personal finances and job security continue," said Sarah Cordey of the British Retail Consortium.
"A combination of high inflation and low wage growth means households budgets are under massive pressure and people`s disposable income is falling," said Cordey.
Troubled destinations like Tunisia and Egypt have seen tourism nosedive.
But old favourites like Portugal, Greece and Spain have witnessed interest grow, thanks partly to cut rate deals.