A weakened pound will cause people to be choosy rather than cancel their holidays, according to travel recruiters.

The pound has fallen to its worse rate against foreign currencies in 18 years, a decline that is likely to make foreign holidays more expensive as the British traveller gets less for their pound.

Jason Blayne director at travel recruiter T&T, told Recruiter: “The luxury market will not be affected and the economic climate does not bother them. There are enough operators doing the deals. People will shop around for the bargains. There are certain operators that have gone and there will be more job losses. There are still people recruiting. There are people growing their organisations and there are people downsizing.”

Nina Johnson-Bennett, managing director at hospitality, tourism and leisure recruiter Management Search Executive, adds: “Individuals are being choosy about their holidays but the top end will always have the money and they will go where they want to. The general recruitment market is decreasing because everybody is putting a freeze on recruitment until the new year.”