According to a recent survery by CreditExpert.co.uk, the majority of Brits still intend to take a summer break this year in spite of the credit crunch.  Less than a quarter (24 per cent) are shelving their holiday plans.

The results of the survey showed that many people are willing to get themselves into debt in order to have their holiday, with 2.8 million adults ready to go into the red by paying for their holiday.

16 per cent of respondents said they believe their holidays are important enough that they only think about the money spend when they get back home.

20 per cent of Brits intend to cut back on the cost of holidays by sharing the costs with friends of family.  In the 18 - 24 year old group, this proportion increases to 37 per cent.

Managing director of CreditExpert.co.uk, Jim Jodgkins, said:

“The credit crunch is really biting now and it will be painful for people to make the choice between not going on holiday or taking on more debt to do so.”

The survey showed that those in the north east of England are most likely to get themselves into debt for a holiday, whereas those from the south west of England and Wales are most concerned about how the credit crunch will affect their finances.

Many people are looking for cheap holidays during this economic climate.