cheryl
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Is a travel recession in the wings? - Chron
Consumers nervous, cutting back according to reports
Travel demand is almost always a good predictor of what's to come for the overall economy. It's like the canary in the coal mine. When consumers and big companies start to feel nervous about future prospects, travel is usually one of the first things to get cut (or reduced) from the family or corporate budget.
So while employment and overall economic numbers still look like it's full steam ahead for the U.S. economy, the travel industry may be starting to feel a light recessionary chill. Some examples:
"We have had 100‐plus straight months of travel expansion in the U.S., and there are now parts of the world that are just starting to join the travel revolution...But despite these positive factors, I see increasing and worrying signs about where worldwide demand is headed and evidence that suggests the U.S. is poised for a slowdown across every travel category" writes Clayton Reid, the CEO of MMGY Global, a giant marketing and communications firm in the travel space.
Consumers nervous, cutting back according to reports
Travel demand is almost always a good predictor of what's to come for the overall economy. It's like the canary in the coal mine. When consumers and big companies start to feel nervous about future prospects, travel is usually one of the first things to get cut (or reduced) from the family or corporate budget.
So while employment and overall economic numbers still look like it's full steam ahead for the U.S. economy, the travel industry may be starting to feel a light recessionary chill. Some examples:
"We have had 100‐plus straight months of travel expansion in the U.S., and there are now parts of the world that are just starting to join the travel revolution...But despite these positive factors, I see increasing and worrying signs about where worldwide demand is headed and evidence that suggests the U.S. is poised for a slowdown across every travel category" writes Clayton Reid, the CEO of MMGY Global, a giant marketing and communications firm in the travel space.