Holiday industry 'is resilient'

Travel trends: 13 March 2008

The international tourist industry is weathering the financial storm created by the global credit crunch, experts have stated.

TNS Travel and Tourism said holidaymakers from the UK are not cutting back on their holidays and levels of spending, despite the possibility of an economic downturn, Travel Weekly reports.

European countries and long-haul destinations were both found to still be popular places to visit, even with the financial constraints currently faced by lots of British consumers.

According to a survey by the group, 30 million adults from the UK are planning to take at least one trip overseas this year.

Tom Costley, head of travel and tourism at TNS, observed: "This data highlights a number of trends that suggest the UK holiday market appears resilient in the face of the economic downturn."

Earlier this week, a similar viewpoint was expressed by Murat Dedeman of the Turkish Tourism Investors Association.

Speaking to Reuters, he said holidays have become a necessity for people and that they will not be stopped by the possibility of a worldwide recession.

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