Surveys predict good news…or is it bad?
Two optimistic travel surveys show tourism and biz travel rebounding but a third says the industry will take another five years to recover from the current global slowdown
Maritz Travel says holiday wandering will rebound to near pre-recession levels. And Deloitte says biz travelers say they’re traveling as much or more this year than they did in 2010.
“The Maritz survey had a double-dose of good news — more people plan to travel, and the spending per individual is expected to rise,” commented the Dallas Morning News.
"Finally we see a silver lining for the travel industry, which is rebounding from a US$4.05 billion loss during 2009’s holiday season," Maritz Research executive Rick Garlick said.
The five-year recovery prediction was the result of a poll of 1,200 senior industry executives at the World Travel Market.
“The impact of the global financial downturn on demand, price and profitability in the industry over the next five years is the industry’s biggest fear with more than half highlighting it as the industry’s biggest issue,” according to the poll of 1,200 senior industry executives.
Said World Travel Market Chairman Fiona Jeffery:
“The global financial slowdown has had a dramatic impact so far, and remains the largest and most consistent worry for the global industry over the next five years. It is clear that the concern runs deep.”
Maritz said that 19 percent plan to fly for Thanksgiving, up from 14 percent in 2009 but far below the peak of 32 percent in 2004.
Airline fees were cited by 51 percent of regular air travelers as a "major annoyance," Maritz said, "and nearly 40 percent of those travelers said the new fees have caused them to fly less frequently."
The Deloitte survey, which focuses on corporate travel, said that only 29 percent of respondents expected to travel less this year than in 2009. However, those that traveled were pinching pennies more often, Deloitte said.
"The travel industry was not immune to the economic slowdown, but the confidence demonstrated by business travelers who responded to our survey suggests a brighter outlook for the industry as a whole," Deloitte vice chairman Adam Weissenberg said.
A more optimistic note came from TripAdvisor which indicated travel will pick up next year. One result was that 24 percent of respondents plan to fly more next year. In addition, more than two thirds plan to spend more money on travel in 2011.
By David Wilkening
David
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