Travel industry recovery will be quick, says economist by Cheap Flights Booker UK

The global travel industry is likely to emerge from the economic recession at a faster-rate than many other sectors, a leading economist has predicted.

Addressing delegates at the Travel Convention, the chief executive of the Centre for Economic and Business Research (CEBR), Douglas McWilliams, noted that the economic downturn has led to consumers thinking about their finances more and ultimately spending less, Travel Weekly reports.

However, he told industry chiefs at the Malta event, this could spell good news for businesses operating in the travel sector, such as hotels and cheap flight providers, as consumers have spare cash, which they are more likely to spend on holidays than unnecessary luxuries.

Also on a positive note, Mr McWilliams expressed his confidence that, as the British government gives the private sector greater freedom so as to cope with the public sector cuts being carried out, it could drop plans for increases in the rate of Air Passenger Duty, thereby spelling good news for both airlines and passengers keen to enjoy the benefits of cheap flights abroad.

At the same time, the chief executive of British Airways, Willie Walsh, has told delegates at the same event to "welcome and embrace change", such as mergers between major carriers, Marketing magazine has reported.


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