Holidays are "the last expense to go"...

Research is showing that both Americans and Britons are refusing to give up their vacations despite the worsening economic climate.

Over 80% of people said that their annual holiday was not a luxury but an important event in the year. Nearly 90% would not choose travel as the primary area in which to cut spending. Rather than changing their destination or level of accommodation, over 90% of customers are deciding, if necessary, to cut the length of their trip by a couple of days.

So don't buy those new shoes or book that restaurant - save it for your next vacation and the memories will be with you for ever!