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People are saying "sod it" to the credit crunch and buying summer holidays anyway, a leading travel agency group says.
The 700-member Global Travel Group reports a ten per cent increase in sales and a 15 per cent rise in the average holiday price this summer compared to last year, website travelmole.com reports.
Commercial director Dave Clayton said that despite rising costs of living, people were not giving up their holidays.
"People are saying, 'sod it', I'm going away," he said.
While it is "boom time" at the moment, he anticipated "more challenging times ahead" and that prices will go up next year, affecting demand.
The news comes as the Association of British Travel Agents (ABTA) said that the holiday industry is "performing extremely well" despite the economic climate.
Spokesperson Frances Tuke said that Spain, home to popular destinations such as Fuerteventra, was "holding up very well", despite concerns it might have suffered through currency fluctuations in the eurozone.