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| CUT BACK'S ON CRUISE SPENDING |
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| Cruise News - Rest of World Cruise News | ||||||
| Sunday, 14 December 2008 | ||||||
 CONSUMERS are tightening their belts this Christmas, with many cutting down on the number of presents they buy and the majority paying for them in cash, a recent survey showed. Nearly four out of 10 people said they were spending less on Christmas this year, while 21% of people are changing their shopping habits because of the economic downturn, according to Halifax.
Meanwhile Silversea Cruises’ director of marketing UK, Ireland and Middle East Anil Swarup admitted to trade magazine, Travel Weekly bookings were "slightly" down on this time last year but said: "The UK is the least affected market."
Of those booking a Silversea cruise, 50 - 60% are US passengers while 15-20% are UK and the rest Europe and Asia Pacific.
The UK market is continuing to hold up well against the UK and Europe, he said.
He added: "Cruising I think is less affected than many operators but we are affected by the economic situation which is worldwide."
Silversea launches its new Silver Spirit in December 2009.
Halifax said around 56% of people who are making changes said they were taking advantage of pre-Christmas sales and 36% are reducing the number of presents they buy.
More than a third of people said they had prepared gift lists, which 83% said they were sticking to.
Other changes included starting Christmas shopping earlier and savings for Christmas earlier, and agreeing a spending limit on presents with family and friends.
Cruise lines are trying hard to get bookings for their 2009 programmes. RCI, NCL and Carnival all said they had dropped fuel supplements, to make cruising more affordable. Meanwhile Costa said they recently announced new “all-in family deals”.
Overall 71% of people will pay for at least some of their presents in cash, while 35% will use a credit card, 14% will rely on a store card and 5% will take out a loan to cover the cost.
People who plan to buy their Christmas presents with cash expect to spend an average of £317, while those who are relying on debt will spend around £234.
But those relying on debt to fund the whole cost of Christmas expect to end the festive season £449 in the red.
Mike Regnier, Halifax head of banking, said: "It's encouraging to see that more consumers are becoming prudent with their finances this year by choosing to use their savings, monthly income and cash to pay for their Christmas purchases, rather than opting for costly store cards which could see them paying out more in the long run."
People in Yorkshire and Humberside are most likely to change their Christmas spending habits at 26%, while those in the South East are most likely to be cutting back on the number of presents they buy at 46%.
Two-thirds of people in Wales plan to buy fewer presents and nearly half of people in the West Midlands have agreed on a spending limit with friends and family. Don't pay more than your tablemates Cruise prices can vary by £100's at different travel agencies, so CruiseCompete makes it quick and easy to shop around. Select the cruise you want, and let independent agents compete to offer you the best deal
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