A survey by Holiday-Rentals.co.uk found that, on average, £2,092 will be spent on a family holiday this year, versus £2,351 in 2007.
The biggest cut back will be on travel, with the average family spending £545 getting to and from their destination in 2009, a drop of almost £82 since 2007.
Families also intend to spend less on accommodation, with average planned spend cut from £525 in 2007 to an estimated £461 this year.
Holiday-Rentals.co.uk found that 67% of Brits are planning to cut the cost of their holiday, with staying in the UK (40%) the most popular way of saving cash.
Almost 49% are planning to avoid peak times, while more than a quarter are staying in a cheap hotel and 21% are planning to go self catering or rent a holiday home.
But not everyone is willing to cut back, as 31% say they would never consider staying in cheaper accommodation, while 23% wouldn’t go to a less expensive destination.
On average, Brits are taking almost £50 less spending money away this year, down to £425 from £475 two years ago, while £14 is being cut from the 2007 food bill of £199.
British holidaymakers are also spending less on their holiday clothes, buying £96 worth of new clothes compared to more than £111 two years ago, while other cuts will be made in duty-free, excursions and activities spend.
The poll was carried out among 2,000 people.
See also:
Frugal Brits travel for less (28/04/2009)
Spending on holidays falls (17/04/2009)
Fear factor affecting consumer spend (16/04/2009)