Last-minute bookings on the rise

An increasing number of travellers are waiting until the last minute to book their trips away in the hope of landing a cut-price deal.

That is according to EssentialTravel, which has reported a 70 per cent rise in the number of people leaving it late to book single-trip travel insurance rather than opting for annual cover.

The firm claims that this is a clear indication that the gloomy economic outlook and increased public anxiety are beginning to have an effect on the way Brits book their holidays.

EssentialTravel's head of insurance Stuart Bensusan said: "Whereas in recent years people expected to book one, possibly two long holidays plus a couple of short breaks a year, short-termism is now the major factor influencing Brits' holiday choices."

This is because travellers are too concerned by the financial uncertainty to splash out on an expensive summer holiday now, instead seeking out last-minute bargain deals online, he added.

The findings come after a study by Hotels.com revealed that more British tourists are now looking to take short breaks in the UK, with the number of single-night holidays up 29 per cent over the last year.