People head abroad despite financial pressures
Investors who depend on rental returns from tourists for income will be buoyed by new estimates on the outlook of the holiday industry.
Travel search engine Multicom said that the rising cost of living in the UK is not putting people off booking trips abroad.
In fact, figures from the website show that the number of holiday bookings over the first three months of 2008 is 40% up on the same period last year.
This will be welcome news for buy-to-let investors who own property in popular tourist destinations, as many are reliant on rental yields as a means of generating wealth.
Chris Nourse, general manager of Multicom, commented: "Years ago, holidays abroad were seen as a luxury for the few who could afford them.
"Now it seems they are being seen as more and more essential."
Mr Nourse added that while the travel industry may experience some difficulty as consumers face further financial constraints, it is much less vulnerable than some other sectors in the economy.
According to travel firm Thomas Cook, the British public feels the need to take holidays in order to enjoy some respite from their busy lives.
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