There may be trouble ahead but they aren’t keeping holiday-makers at home. In fact, the travel business is reporting continuing growth. Sarah Barrell explains.

Credit crunch, economic slowdown, whatever we dislike to call it, the current gloomy financial climate has not seemed to dampen British spirits as much as predicted – at least when it comes to booking our holidays.

In the past three penny-pinching months, travel is the only consumer services sector to report growth in business volume (according to a report from the Confederation of Business Industry Survey in May), revealing that holidays are valued higher than other luxury commodities even when our disposable income is under pressure.