Millions of British holiday makers are abandoning plans for foreign travel and embarking on "staycations", figures show, as economists predict the trend will provide a major boost to the UK and its economy.
Tourism boards across the UK are reporting record-breaking numbers of bookings and inquiries over the past few weeks, suggesting workers will pump billions of pounds back into the UK instead of spending their cash abroad.
Our Holidays for Allseasons brand is reporting a sharp increase in interest.
Last night experts said the boost "could not come at a better time" and claimed British families choosing to holiday at home would have a "disproportionately" positive fiscal effect.
Justin Stewart, economist and director at Seven Investment Management, said: "More people holidaying in the UK will hugely boost our economy at a time when we greatly need it.’’
In numbers | Why Brits are choosing staycations
The number of people holidaying in England in the first quarter of 2016 - a 10% rise compared to the same period in 2015, according to Visit England.
Rise in the cost of a holiday for the average family of four, one month on form the Brexit vote, according to TravelSupermarket, due to the fall in the value of the pound
Fall in the number of tourists visiting Turkey from in the year to April 2016
Holidaymakers whose pre-booked trips were affected when travel website Low cost holidays filed for administration
The year-on-year rise in travel firms breaching their terms and conditions, according to Citizens Advice. Examples include providing substandard accommodation, booking customers onto flights that don't exist or swapping people’s holidays without offering them a chance to cancel.
"Staycations" have been steadily gaining popularity since the start of the year with a record-breaking 7.3 million people holidaying in England in the first quarter of 2016, up 10pc compared to the same period in 2015, according to Visit England.
In recent months families' plans for trips abroad are being thwarted by an amalgamation of factors which travel experts say are causing record numbers to shun the traditional "week in the sun" for a holiday on home soil.
European holidays have escalated in price as the spending power of holiday money has been savaged by the falling value of the pound, which has dropped 10pc against the euro since Britain voted to leave the EU on June 23.