86% of Irish people will not sacrifice trip abroad

The vast majority of Irish people say they are not prepared to swap their foreign holiday for a break at home despite the recession.

According to Mintel Ireland's new survey on lifestyles during the economic downturn, 86% said they will not sacrifice a trip abroad.

But the study found one in four people has put off major purchases such as a new car, while one in four also believes his or her lifestyle will change significantly because of the recession.

Despite a considerable number of homeowners now being in negative equity, just 18% said they have lost trust in property as a means of financially securing their future.