Yesawich, Pepperdine & Brown, a research firm specializing in the travel industry, said promotional pricing will continue to stimulate demand through the first quarter of 2002, but the year will see the beginnings of a recovery.
“We have two converging lines that will impact the travel forecast,” said Peter Yesawich, president. One is the aftermath of Sept. 11, and the other is the languishing economy,” Yesawich said.
“Travel will see a slow climb during 2002. In fact, we may not see a full recovery until 2003.”
YPB polls show business travel has rebounded since Sept. 11 but has not returned to prior levels.
Fear of flying is the top reason people have altered or canceled travel plans, according to YPB polls.