Britons 'cutting their holiday budgets'

More Britons have made the decision to cut their holiday budgets this year as the financial downturn rumbles on, new research has found.

However, by planning a trip to Slovakia - which is noted as being one of the cheapest destinations in Europe - they may not have to miss out.

According to Santander Cards, the average getaway budget has been cut by £256 per person per week, while holidaymakers are primarily opting to reduce their spending money and the number of times they eat out.

But 84 per cent of Britons are still planning to go away this year, in spite of the credit crunch, with 43 per cent keeping to the same budget they had in 2008.

Callum Gibson, director at Santander Cards, said: "A summer holiday is the one thing that most Britons won''t do without but many Britons are consciously looking for ways to reduce the amount they''re spending this year."

Holidaymakers may wish to consider a trip to Slovakia, which Skyscanner once recommended was one of the cheapest places to ski on the continent.