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Aug 19 2008
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Brits break piggy banks open to fund holidays |
The traditional fortnight villa holiday abroad is not something that Brits are planning to give up easily.
New research from Abbey shows that Britons collectively raid their savings of around £50 billion each year in order to fund holiday breaks overseas.
Abbey also reveals that 26 per cent of Britons do not find this holiday spending overindulgent either, with one in four claiming holidays to be "the best way to spend excess money".
Each year, £81 billion is spent on holidays by the adults in the UK, with 62 per cent of Britons admitting to using their savings to pay
Richard Dunn, managing director at Cater Allen bank recently remarked that holidays were, to Britons, "much needed rest and rehabilitation time".
"The two week summer break has become an essential respite for hard working Britons," he added.
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