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Posted by Emily Jones

The fall in the value of the pound in relation to a number of other currencies, including the euro, has served to discourage consumers from travelling.

This is according to financial research company Defaqto, which suggested that there has been a decline in holidays recently.

As well as currency problems, rising unemployment and the increasing need for many individuals to reduce expenditure in the wake of the recession have subdued demand for vacations, it noted.

Defaqto's Brian Brown said: "Overseas travel by UK residents fell by almost 16 per cent in 2009 as consumers reined in their non-essential spending and this has particularly affected the number of overseas short breaks taken."

However, the firm also discovered that the number of travel insurance policies available to individuals who do decide to go on a foreign excursion increased by 9.5 per cent over the last year.

The disruption caused by the volcanic eruption in Iceland, which is intermittently resulting in the cancellation of flights in and out of the UK, may also be discouraging people from heading abroad.

08/06/2010 15:00