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New research shows that many British holidaymakers are unwilling to give up their annual summer holiday overseas despite the economic downturn.

According to Thomson and First Choice, there is little evidence that there has been a decrease in consumers looking to take their vacation abroad, especially as the British barbecue weather fails to materialise.

A spokesperson for Thomson and First Choice said: "Although we can't comment on behalf of the entire industry, from our perspective, customers indicate that they still want to go away."

She added that there was an ongoing market for short and mid-haul holidays, especially as prices remain favourable for customers.

Recent research from PricewaterhouseCoopers suggested that there would be a 56 per cent fall in the quarterly UK travel insolvency rate but that the travel industry could feel the impact in autumn, as some people make the decision to remain at home or limit their travel to UK destinations.

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