Despite the rise in the cost of living and the price of travel, British tourists are willing to make concessions to keep their holidays, according to a recent study by the tourism services company Holiday Extras, which concludes that more than 40% of Britons are willing to cut some household expenses to maintain their vacation period.

According to the study, which interviewed more than a thousand tourists from the United Kingdom and which was released by Travel Weekly, 54% of respondents say they have not yet made a decision and need to do more research to decide what to do, while another 40% say they are considering exchanging their holiday abroad for a break in the UK.

The study also shows that many British tourists (40%) will wait for last minute opportunities and more attractive prices.

“The Bank of England may warn of a recession, but UK tourists remain determined to escape next year, regardless of prices,” says David Norris, director of growth at Holiday Extras.

The Bank of England estimates that the current recession could last around 15 months and cause a 2.1% drop in British GDP, although it is still less profound than that recorded in 2008.

The British are willing to “stretch their budgets to guarantee a break” on vacation, as has already happened this year concludes Norris.