Boom Time for Low-Cost Travel Operators

[Mike W]

Not the kind of Headline I expected to see at the moment taking in World economic conditions.

http://www.nzherald.co.nz/business/n...ectid=10542206

1:30PM Monday Nov 10, 2008

The international tourism industry faces a tough year in 2009, but low-cost travel operators could be the big winners from the global economic downturn, according to an annual report released today.

The World Travel Market 2008 report - conducted by Euromonitor International - said that budget carriers and hotels could expand their share of the business travel market as companies look to tighten their belts as many countries head into recession.

It adds that the Middle East and Asian intra-travel markets remain a bright spot for the industry, while tourism operators in the Europe and the United States face an uphill struggle to turn a profit.

"The industry is facing quite a bleak 2009 as the impact of the global financial crisis trickles down into the real economy and it impacts on consumer spending," said Caroline Bremner, head of travel and tourism at Euromonitor International. "That's when the full extent of the crisis will be seen."

The report was released to coincide with the start of the World Travel Market in London, which is due to be attended by some 48,000 people.

Continues