Short breaks abroad have been one of the sectors hardest hit according to the latest study in holiday habits by market research agency BDRC Continental who conducted the survey amongst 1,005 people.

But the good news for fly to let overseas holiday home owners is that the company predicts there will be a recovery in the spending outlook as 2010 progresses.

BDRC’s 'Project Mars,' tracked the impact of the recession on the public’s discretionary spending since February 2009.

It found that while short haul holidays overseas continue to bear the brunt of the recession, people will still be placing high emphasis on value for their domestic holidays this year.

More than a third (34 percent) expect to cut back on short break trips and 30 percent expect to economise on longer holidays abroad, a rise of 2 percent since September.

Tony Wornell, a Director at BDRC, said: “Between March and September we saw a growing willingness among consumers to spend on entertainment, holidays and memberships as fewer people feared they would loose their jobs or suffer a fall in income in the year ahead.

“The greater restraint we have seen in November is probably seasonal, as consumers switch their spending focus to coping with Christmas. Moving into the New Year, we anticipate further recovery in the spending outlook, but the extent of recovery will depend on the actual impact of the changes the Chancellor has announced to tax, VAT and bonuses.”

• Fly to Let customers are being offered 25 new European routes from no frills carrier Ryanair.

From April and May there will be more European flights covering Alicante (1), Barcelona Reus (5), Barcelona Girona (1), Bratislava (3), Bristol (2), Cork (7), East Midlands (2), London Stansted (3), Milan Bergamo (2) and Pescara (1).

Ryanair’s Stephen McNamara said: “Ryanair continues to develop great new routes so that passengers can beat the recession by flying at Ryanair’s guaranteed lowest fares and no fuel surcharges to exciting destinations all over Europe.

“Ryanair will continue to grow as other airlines pull routes and reduce capacity. With passengers becoming increasingly price sensitive Ryanair will continue to expand so that even more passengers can take advantage of Ryanair’s guaranteed lowest fares and no fuel surcharges.”

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