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The Recession’s Impact on Travel 26
May

As the recession drags on and the news from Wall Street continues to cause consumers to tighten their spending habits, there are facets of the economy looking to lure customers to spend their money. The travel industry is advertising, marketing and hoping consumers will spend money on travel, especially cruises. They are cutting rates and offering specials trying to weather the financial storm until better times.

Since travel is considered to be a discretionary expense, many families are forgoing vacations until their financial situation solidifies. With less people traveling in an effort to save money, amusement parks and attractions are trying to entice people to visit their resort or park.  The amusement parks and tourist attractions in Florida are so dependent on tourism that they are offering deep discounts and enticing rates in an effort to fill their parks and keep business as usual.

Along with the amusement parks suffering from the recession’s realities, the supporting industries serving tourists are suffering in the wake of fewer travelers. Rental cars in Orlando used to be a booming business but the recession’s impact has been felt. Restaurants and shops are reporting decreased sales as fewer tourists are frequenting their establishments. As the economy shows signs of recovery, so too will the recovery come to the entire travel industry.

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