Rebound in travel optimism claimed

Friday, 26 Jan, 2010 0

More than three quarters of senior travel industry buyers claim to be optimistic for the prospects for the trade in 2010.

A poll of members of World Travel Market’s Meridian Club, the business club for the travel industry’s most senior buyers, found that 84% are showing optimism.

More than six out of ten of the 659 senior buyers surveyed say the industry will perform better in 2010 than in 2009, with a further 33% believing the industry performance will be on a par with last year.

Six per cent fear 2010 will see the industry perform worse than it did in 2009.

Meridian Club members have even more confidence in their company’s performance in 2010 with 92% stating they are optimistic about their organisation’s performance this year.

Seven out of ten say they believe their company will perform better in 2010 than it did in 2009, with a further 27% expecting it to perform broadly the same as last year.

A minority of three per cent expect their organisation to perform worse in 2010 than it did in 2009.

Prior to the economic downturn the industry was expected to grow by four per cent in 2009, according to research by Euromonitor International unveiled at WTM.

But the industry shrank last year with the World Travel & Tourism Council stating the industry’s global Gross Domestic Product declined by 3.6%.

Meridian Club marketing manager Mark Jakobsen said: "It is great news for the industry that it’s most senior buyers expect it to bounce back this year.

"The global financial downturn has had a significant impact on a number of industries including travel and tourism.

“Consumer confidence is starting to recover and Meridian Club members say this is reflected in bookings so far in 2010 and are confident this will continue throughout the year.”

by Phil Davies

Phil Davies

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