Global financial crisis sees new travel trends and creativity in the face of adversity
Last updated 11/24/2009 2:13:13 PM
Coming soon near you. Hello Kitty Golf is a fashion craze in Japan
The 30th World Travel Market held in London revealed predicted report on the impact of recession on travel industry, but also identify encouraging trends and new travel culture.
The WTM Global Trends Report 2009 was produced in association with Euromonitor International.
The forecast are far worst than anticipated, with global arrivals number declining to -8%, hotels -16% and air sales -14%.
Travel companies took drastic measures to gain cost efficiencies from cutting capacity, staff redundancy and investment online.
This has slowed development and implementation of sustainability, although it remains a main talking point of the industry in general.
The findings also show that consumers are not willing to abandon travel activities altogether despite of the downturn. Instead, they have adapted by shunning luxury and trading down.