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Personal debt hits travel and hospitality workers

11 December 2006
Personal debt hits travel and hospitality workers

Increasing numbers of people working in the travel and hospitality industry are facing huge personal debts and insolvency, new research reveals.

Thomas Charles, a leading debt advisor, revealed that one in six workers in the industry have unsecured debts of at least £10k.

One third of employees struggling with such debts report regular problems with repayments and a worryingly high figure of 15% fear insolvency.

This strain on workers in the travel and hospitality industry reflects the burgeoning debt crisis of the country as a whole. Recent figures show that one in five adults in the UK have unsecured debts of at least £10k.

James Falla, director of Thomas Charles, said: "Debt is a UK wide problem, but the impact on the individual, and on the industries in which they work, can often go unnoticed."

Falla added that it is important to "encourage employers in the travel and hospitality industry to provide support and information for employees struggling financially." It is hoped that by releasing these figures individuals will be inspired to take positive action to deal with their debts.

Thomas Charles website >>

By Catherine Bennion-Pedley

E-mail your comments to Catherine Bennion-Pedley](mailto:chris.druce@rbi.co.uk?subject=Personal debt hits travel and hospitality workers) here.

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