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The Credit Cruncher was conceived to help you to keep up to date with credit crunch and recession developments, it provides some helpful credit crunch advice and it addresses personal debt. The Credit Cruncher also seeks to explain how the credit crunch started and shed some light on the worldwide recession. Recently, we have begun to look at how BREXIT will affect the UK economy. Please feel free to leave comments where relevant.

3 Feb 2009

The upside of a recession

There are always some niche areas that benefit from an economic crisis and UK holiday group have announced a £50m investment plan and are planning to recruit 2,000 workers for their various resorts around the UK.
How is this possible?
Two factors have combined here, 1) The general economic climate has persuaded some families that they cannot afford a holiday abroad, yet they are still keen to have their traditional Summer break in an affordable environment. 2) More significantly, the exchange rate has put off many families from going abroad, the pound being weak against the Euro amongst other currencies.
For several years now, holidays have not been a priority for my family, but where we have taken a break it has been strictly on British soil. This years planned holiday will take advantage of free shared accommodation that we have been offered rather than a costly holiday of our own. In years to come, when there is money in the bank, I certainly intend to 'push the boat out' and take the family to some favourite haunts world-wide. For now, I haven't even renewed my passport...

Related posts:
How to survive recession
Will we all end up broke?
How long will the credit crunch last?

Prices effected by the Credit Crunch?
Effects of the crunch in the UK

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