More than half of Britons planning their holidays this year are not thinking of leaving the country, it has been revealed.

Many people are rather considering the modest option of holidaying in the country in order to save money.

According to new findings the decision is not unconnected with the current recession and growing uncertainty as more jobs are axed and no one is able to predict when the financial crisis will recede.

A survey of customers showed that most people have had their holiday plans affected by the credit crunch this year.

It was also found that travellers are less enthusiastic about booking early to get the best deals.

However, more than 80 per cent of respondents were still keen on ensuring they had a valid travel insurance cover before heading off, as they said they would not risk travelling uninsured despite the credit crunch.

Meanwhile, experts are still reminding people to make sure they purchase adequate travel cover before going on holiday, whether within the country or abroad.