People tempted to use their redundancy pay to pay for a flight to Thailand, India or other exotic location are by no means alone, according to one expert.
A number of young professionals who are fed up of the ongoing global economic downturn are taking redundancy pay and using the cash to fund a flight to Thailand, South Africa or another exotic location, it has been asserted.
Tom Griffiths, founder of gapyear.com, explained that many people between the ages of 25 and 35 have fewer commitments than their older counterparts and are becoming increasingly tempted to escape the doom and gloom in the UK and see the world.
Figures from the Office for National Statistics indicate that unemployment for people between the ages of 18 and 24 was 722,000 in the three months ending in June.
Meanwhile, many younger people are choosing not to go straight to university as they can see that the “bank of mum and dad” is feeling the pressure of the recession.
Rather, they are heading off to experience something completely different by hopping on a flight to Australia, India or elsewhere, he concluded.