.... next year will probably see a tough consumer-led reappraisal of the market. Interestingly, early signs of this shakedown can be seen in the generally robust market for private villa rentals. Edward Marquis, chief executivw of the Villa Book, a UK-based rental agency focusing on France, Spain, Italy and Greece, says November has been his best month in hte past six. For hotels and resort owners, it's been the other way round....

....It is the search for value for money that is likely to push villa rentals up the holiday hierarchy in bookings. In addition, owing to the real estate crash, there's more choice on the market - in Europe, homeowners unable to sell and instead turning their assets over to rental companies....

....Even for those not benefitting from the dollar's strength, private villas have other, less obvious crunch-friendly benefits. Guests don't have to eat out every night. Extras, such as spa treatments, don't come tumbling on to your end-of-stay bill with a villa. And most of the time, food is charged at market prices....

....Destinations to consider include South Africa, where the rand is offering exceptional value to the dollar, euro and pound. You can expect luxury houses on the water at 1980s St Tropez prices....

....In 2009 you can expect a mix of the offbeat, good value and under-radar location to become increasingly sought after - and the best holidays will mean researching your options a little more before you book.