The US will remain the largest travel and tourism industry in the world despite a downturn in the American economy, according to Jean Claude Baumgarten, President, World Travel & Tourism Conference.
“People are resistant and resilient to economic change. They may put off driving a car, but they will go to Disneyworld,” said Baumgarten, who made his remarks at a recent conference on the changing world’s impact on travel and travel insurance.
Another speaker, Mark Bergsrud, Vice President of Continental Airlines, said airlines are responding to more globalization by opening up more direct service to other countries.
Still another speaker, Bob Sharak, Vice President of Cruise Lines International Association, said cruise lines are offering new ports of call.
Other travel trends:
- The rise of regional jets which is altering the traditional hub and spoke airline system.
- How to deal with the continuing problem of higher fuel costs, which have not surpassed labor expenses.
- The need to find ways to utilize design innovations to maximize fuel efficiency in the airline industry.
- The continuing trend towards innovation in the cruise industry with the largest growth being family and multi-generational travel.
Mr. Sharak predicted tight future demand due to limited growth and capacity in the near term, saying that the cruise industry expects nearly 13 million passengers in 2008.
Report by David Wilkening
