Healthy signs for improved economy
US consumer confidence is returning, says Brian Tan, and he can cite a variety of reasons.
“In the first quarter of 2009, we saw four out of ten travelers deferring or canceling their travel plans because of concerns about the economy and job stability,” said the Founder and CEO of Zicasso.
But in the most recent quarter, less than five percent of travelers have such hesitations, according to Tan.
“That’s a huge improvement in confidence with travelers,” said Tan. “We’re really seeing that 2010 is going to have much improved bookings.”
Some other trends he sees next year:
ï¶ Consumers remain very budget conscious. “Travelers are far more budget conscious and need to stretch their dollars a little better,” he said.
ï¶ A large pent-up demand is leading to more close-in bookings, or travel booked one to three months in advance compared to longer lead travel time in the past that may have been up to six months of advance bookings.
ï¶ With the American dollar remaining anemic, American travelers this year might consider not going to the top three countries in Europe — Italy, Greece and Spain — and instead consider “better value” areas such as Croatia and Turkey (though not Istanbul, which remains expensive).
ï¶ An upturn in travel to Southern Hemisphere destinations is on the horizon in part because of new carriers that have expanded air routes, spurring competitive rates coupled with a greater value for the dollar.
ï¶ Other good value countries for US travelers looking overseas are Costa Rica and Guatemala.
Tan’s company is a free, online travel site that was started last year to fill a niche in travel planning.
“Zicasso is the only site that provides trusted reviews in a rating and review system of their network of travel specialists which is similar to Yelp but takes it one step further: only bona-fide travelers who have purchased and completed travel can post a rating or a review,” says a pr spokeswoman.
Most of Zicasso’s clients tend to be couples around the age of 40 that are likely to prefer four-star hotels over five-star (they might make up 80 percent of the company’s business, Tan estimates).
By David Wilkening
David
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