The travel spending in US saw a sharp plummet with the recent trends of consumers to comply with bad economy. The travel spending in US didn’t see such worst figures, ever since 9/11 disaster.
The travel spending indexes in the last quarter of 2008 showed a sharp sink of 22 percent, compared with the previous quarter. Even the situation during 2001 terrorist attacks was better as the plummet was limited to only 19 percent.
As a result of the sudden decline in travel spending by US travelers, the industry and its employees are struggling to comply with the situation. The vendors and major players of US travel and tourism industry are still trying to lure people back into spending with lower airfares, cheaper hotels, theme park discounts, special packages, etc. But, unfortunately they are not as much successful in their efforts.
The industry has slashed about 33,000 jobs in February to comply with the situation. If the situation continues, the industry has no choice except to cut more number of jobs.
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