While most industries are being hurt by the global credit crunch, it appears that online dating is one of the sectors that is actually benefiting from the financial downturn.

Dating web site plentymorefish.com has seen an "unprecedented" four fold increase in the number of new members joining in the last month. Steve Moylan, co-owner and manager of the site, believes this surge in sign-ups is a reaction to the credit crunch.

“We have not undertaken any unusual marketing activity during the period, nothing that we were not doing in the months before this sudden increase in interest in our site," he says. "We have come to the conclusion that people are looking for other ways of meeting other people that do not involve going out on the town every night.”

Moylan says single people living alone are feeling the pinch more than others and this is making them think harder about how they socialise and spend their limited "fun money".

"Online they can search for and chat with other people in their area and make a date for the weekend, reducing the amount of money they have to spend going out to find a date in the first place,” he adds.

Perhaps the surge in online daters has something to do with reports last month that the credit crunch has boosted business for divorce lawyers. It seems that following the credit crunch, partners of high-flying City workers are rushing to secure financial settlements in case the impending recession results in a reduced sum.

Law firm Mishcon de Reya told UK newspaper The Observer that it had seen an increase in enquiries from both husbands and wives since the crunch kicked in.

However, as well as partners looking to secure fat divorce settlements, many City workers who have already lost their jobs are pursuing quick divorces so that any alimony payments will be based on their reduced income and unemployed status.