Figures for the number of people booking summer holidays are higher than last year, according to MoneyExpert.
The financial services firm reports that Europe's two largest travel firms - TUI Travel and Thomas Cook - both said that bookings were up against the same period in 2007.
In Britain, the number of people planning summer holidays increased by nine per cent, despite a reduction in the number of holiday packages that were available to consumers, TUI Travel said.
It attributed this increase to a growth in popularity of long-haul exotic holiday destinations.
Meanwhile, Thomas Cook asserted that a similar rise experienced by the firm was evidence that many tourists were defying the credit crunch and fears of a slowdown in economic spending.
MoneyExpert reports that many travellers will look to borrow money to cover the costs of their holidays.
According to a statement published by the company late last month, as many as 26.3 million Britons are planning to cut spending this year to alleviate the strains of a worsening economic environment.
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