January 7, 2008
Credit crunch to hit Travel industry
The Travel Weekly blog reports on how the credit crunch may affect the Travel industry in 2008.
The credit crunch, alongside several other negative economic factors, will contribute enormously towards a difficult trading year for the travel industry, but neither trade nor consumer publications appear to be focusing on the top end of the market, which can often be less susceptible to changing conditions - a market segment which has come to see travel as a necessity.
According to the post, top end travel operators such as Mark Warner and Sovereign Luxury Holidays (part of TUI Travel), should be less affected by the predicted drop in consumer spending.
This may be tempered however by cuts in bonuses paid to city workers, who often are key customers for luxury travel companies.
Read the full story at the Travel Weekly blog.