Nearly half (46 percent) of those who are making changes due to a reduced budget will go for a shorter period, while 35 percent will opt for short-haul, rather than far-flung, destinations.
And with the average traveller having £300 less in their holiday kitty for their next trip, 47 percent now feel more pressure than ever to ensure their holidays offer value for money.
But despite facing budget constraints, the research, which was commissioned by loveholidays, found more than half (55 percent) are still excited about the prospect of holidaying abroad next year.
Nearly six in ten (59 percent) are determined to be just as adventurous with their holiday plans, while 28 percent do not want to compromise on experiencing new cultures – even if they are struggling to stretch their budgets.
Al Murray from the online travel agent, which has compiled its insider tips for booking a trip, said: “In light of the current economic situation, it’s understandable that people want to get the best value for their money when it comes to their holidays.
“Our research shows we’re still a nation who love our trips abroad, with many doing whatever they can to ensure they can still get away.
“What’s also encouraging to see is that despite there being so much doom and gloom around, this hasn’t destroyed people’s sense of adventure.”
The poll also found that when booking their holiday, a third (33 percent) will now do more research to land a cheap deal, and 37 percent will book further in advance.
One in five (21 percent) are more open to booking late-night or crack-of-dawn flights if it makes things cheaper, while 22 percent think booking their holiday in the dead of the night could help to keep costs lower.
For those who book their holidays through an online travel agent, two-thirds (68 percent) say they prefer this route because they think it’s the easiest way to land the cheapest deals.
And 61 percent think it takes the hassle out of everything, while 42 percent do it because it gives them more financial protection – and 30 percent love the number of holiday options it provides.
Meanwhile, the research, conducted via OnePoll, also found nearly a quarter of Brits (23 percent) are now more open to travelling to destinations that are known to be more affordable, to help curb their holiday spending.
When asking respondents where they’d opt to travel in Europe to find the best value, the research revealed Spain, Greece, and Portugal topped the list, while Italy and Turkey rounded out the top five.
Al Murray, from loveholidays, added: “Making sure you’re getting great value for money on your holiday has never been more important.
“Whether it be the way you book or what you book, there are lots of simple changes you can make to your holiday to keep costs low and make your money go further.”