Tourism ‘five years away from recovery’
The travel and tourism industry fears it will take at least another five years to recover from the global financial meltdown, research from World Travel Market has revealed.
The banking crisis has led to pressure on price, profits and demand, said a quarter of the senior industry executives questioned at WTM on Monday.
More than 40% expressed concern about exchange rates and 25% said they were worried about oil prices, although these were only considered by a handful to be the single biggest issues.
WTM chairman Fiona Jeffery said: "It is clear that the concern runs deep, with many worried about what will happen to the demand, with a similar number concerned about what happens to their bottom line."
By Linsey McNeill
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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