How's saving weight significant on a cheap holiday? (10)

I believe the answer is:

hostelling

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'a cheap holiday?' is the definition.
The definition suggests a singular noun which matches the answer.

'how's saving weight significant' is the wordplay.
'saving' is a deletion indicator (saving can mean except).
'weight' becomes 'w' (short for weight).
'significant' becomes 'telling' (I've seen this before).
'hows' with 'w' taken out is 'hos'.
'hos'+'telling'='HOSTELLING'

'on' is the link.

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I've seen this clue in The Independent.

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