economy

(Dive Travel Business News - February 8, 2012) -- In spite of economic concerns, acording to Travelocity’s annual "Traveler Confidence Report," a majority of consumers (53 percent) plan to travel more in 2012 than they did in 2011. This data represents an 18 percent increase versus 2011. Of those who plan to travel more this year, about two-thirds plan to increase their travel budget in 2012, while one-third will travel more without spending more.

"The travel industry should be encouraged by our findings and take this as a vote of confidence," said Carl Sparks, president and CEO, Travelocity Global.  "While increases in spending are being driven by higher prices, travelers are taking more vacations and trips that are longer and farther away this year compared to last." read more »

(Dive Travel Business News - October 20, 2011) -- An unexpectedly strong third quarter for premium air travel fell sharply in August according to the International Air Transport Association. The level of premium passengers in August was just 2.3 percent higher than last year, compared to 7.5 percent in July. The drop in premium passenger travel, which represents primarly business travel, was larger than the fall in economy travel, which declined from 5.5 percent to 3.8 percent. read more »

(Dive Travel Business News - June 3, 2010) -- The Maldives’ nation continues to be a frontrunner in environmental activism with their latest announcement that offers complete protection for sharks in its  90,000 sq.kms (34,750 sq.miles) of Maldives territorial waters. The huge shark sanctuary will be free of all shark fishing and finning, protecting more than 30 different species that make their home in the region. The Maldives has further banned all imports and exports of shark fins and shark products.

"The Maldives were one of the first countries to recognize that sharks were a key reason tourists went to dive there," said Matt Rand, Director of Global Shark Conservation for the Pew Environment Group. "Today's announcement protects the Maldives' tourism industry - the largest segment of their economy - from the ravages of the shark fin trade. It is a bold and farsighted move on the part of the government of the Maldives." read more »

(American Express - Sept 14, 2009) - A new survey from American Express  reports that 30 percent of U.S. consumers plan to adjust this year’s travel plans for Thanksgiving -- historically one of the busiest travel days of the year -- but only 21 percent expect those expenses to decrease compared to last year.

The American Express Spending & Saving Tracker is the second in a monthly series of reports about consumers’ views on the economy and what is motivating them to spend and save. The research sample of 2,009 adults included the general U.S. population, as well as two sub-groups -- the affluent and young professionals. Respondents whose plans are changing said they’ll rely more on automobile travel, stay for a shorter time and cash-in rewards to help pay for holiday trips. The most significant changes are from the young professionals -- 37 percent said they’ve adjusted their plans versus the affluent and general population (both 30 percent). read more »

November 14, 2008 (Travelex.com) -- Although the recent setbacks in the world economy have impacted the travel industry, some reports show that Americans are still planning international travel. However, in this new economy controlling costs is a key trend for most travelers. Americans are planning the trip well in advance to shop for discounts and monitor currency fluctuations for the most favorable exchange rates.

They are using prepaid foreign currency travel cards. A recent industry study suggests that more and more travelers are turning to electronic forms of payment such as MasterCard-branded Cash Passports. They are using planning tools to estimate the cost of vacation basics such as the price of meals, drinks, accommodation, public transportation and attraction entrance fees in more than 50 popular destinations worldwide. read more »

November 14, 2008 (Travelguard.com) -- Travel Guard reports that despite economic uncertainties, segments of American consumers are still planning and booking travel -- in some cases for trips as far in advance as five months.

Travel Guard data suggests the "empty nester" and Baby Boomer segments of the population may be sacrificing other purchases, but are not willing to give up their "right to travel." Travel Guard reports the average cost of trips covered through the company's plans in September and October of 2008 dipped only slightly compared with the same period in 2007 -- from $2,057 to $2,009.

While many media reports conclude that Americans are staying closer to home, this is not the case for Travel Guard clients. The number of clients traveling outside of the United States has dipped only slightly, from 79.5 percent in 2007 to 78.7 percent in 2008. For more information, visit www.travelguard.com.

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