Industry expert sees buoyant holiday demand
26 January 2009 07:49
Francesco Frangialli, the secretary general of the UN WTO, said that while belt-tightening will indeed lead to some leisure spending being curtailed, the wider industry will remain healthy.
Speaking before the United Federation of Travel Agents' Associations, Mr Frangialli insisted that there was little appetite among hardened experts in the industry for "giving in to panic".
Emphasisng the resilience of the industry, she went on to say that even as consumers struggle with their personal finances, they will still recognise the benefits of taking infrequent holidays abroad.
But while certain essentials such as travel insurance could not be skimped on, Mr Frangialli acknowledged that there is a growing trend among consumers to finding savings wherever possible.
"American and European consumers have been spending less in their destinations," he admitted. "This has led to the popularity of staying with relatives and friends, at camping sites, mobile homes and social tourist accommodations."