Travel Recruitment News
<< Back to list of news08.05.2009
Understanding the recession
Travel industry news brought to you by C & M Recruitment, specialists in business travel jobs.Those with jobs in the travel industry have been advised by one sector commentator that they need to understand the impact of the recession on their company's finances.
Caroline Rifkind, senior manager at PricewaterhouseCoopers, said that holiday firms starting to prepare their economic forecasts now for the next three to five-year period should consider planning for an impact of the downturn in consumer spending throughout that business planning cycle.
"If they are putting together a three or five-year forecast, it would be prudent to put together those forecasts on the basis that times will continue to be fairly challenging," she added.
Ms Rifkind noted that bookings may begin to pick up again but it was wise to plan for the opposite eventuality as well.
She concluded that the travel industry firms that would be best placed to stay strong through challenging times will be those that have really good financial information that allows them to react to unforeseen circumstances.
However, bookings for European holidays may start to strengthen, after Thomas Cook research revealed that prices in destinations such as mainland Spain and Majorca are still cheaper than the UK.
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