As I look around the travel sites it seems that the prices are falling and availability for family vacations is like no other time in recent memory. It seems that our recession or depression or whatever it is has had a real effect on the travel industry and there are definitly deals to be had.
The Guardian newspaper said the following today
As Americans evaluate and pare back their discretionary spending for the remainder of this year, the travel and leisure industries are feeling the squeeze.
Companies throughout the sector — including hotel, cruise ship, theme park and gambling concerns — have all warned in recent weeks that their businesses have slowed or that things could get worse next year.“The deteriorating outlook for the economy is impacting travel habits and spending, and hotels are expected to experience reduced occupancy levels, and to a lesser degree, some room rate erosion through 2009,” said Scott Berman, principal at consulting firm PricewaterhouseCoopers.For hotels, the picture looks particularly grim.
The economic and financial crisis has dramatically altered the landscape for travel and tourism, says a report on future trends in the industry launched at World Travel Market on Monday.
The WTM Global Trends Report 2008, produced by market research firm Euromonitor International, warns: “Uncertainty hangs over the industry, especially as the full scale of the downturn is as yet unknown.
“Recession is expected in the world’s advanced markets and emerging economies are not immune to the slowdown.”
The report’s overview paints a gloomy picture, yet its conclusions are upbeat.
So if you are thinking of traveling this fall or winter this is a great time to book. Look at year ago levels and see what kind of deal that you can get.
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