Economic Downturn Tourism News

Panama Canal continues program to help customers during economic crisis

Panama Canal continues program to help customers during economic crisis

5th Oct 2009 Press Release Cruise News

The Panama Canal Authority (ACP) announced today that it will continue until April 30, 2010 a program that provides short-term cost reduction and greater flexibility to its Reservation System. The program, which consists of temporary measures designed to help mitigate the impact of the economic crisis on the Canal’s clients, was the result of consultations with customers and was initially introduced June 1, 2009 for four months ending September 30. Upon request of its customers and the Round Table of International Shipping Associations, the ACP has agreed to extend the program.

The New Age of Austerity

30th Apr 2009 Focus

Business travel has been one of the sectors hardest hit by the downturn. Adam Coulter explores what the top-end hotels can do to lure back the business dollar in this new age of economic austerity.

The New Age of Austerity

17th Feb 2009 Press Release Hotel News

Business travel has been one of the sectors hardest hit by the downturn. Adam Coulter explores what the top-end hotels can do to lure back the business dollar in this new age of economic austerity.

Russia outbound continues to soar

12th Jan 2009 Press Release Tourism News

The old saying that when American sneezes the rest of the world catches a cold has never rung truer than during the current economic downturn. But one of the few markets that has remained relatively unscathed is Russia. Its outbound tourism market grew 17% in 2007, making it the ninth largest outbound market in the world, and initial findings for 2008 report of similarly strong growth. By 2010 Russia is set to overtake Germany.

Hotel chains across Europe feel the pinch

6th Jan 2009 Press Release Hotel News

Chain hotels across Europe’s major cities are suffering the fall-out from companies cutting back on employee travel. Occupancy, revenue and profit per available room in November 2007 fell in all of the ten cities surveyed by TRI Hospitality Consulting compared to the same month a year earlier.

UK hotel prices drop as demand slackens

2nd Jan 2009 Press Release Hotel News

Hotel room prices in the UK have dropped for the first time in four years. Prices fell 4% in the third quarter of 2008 to £97 per room per night, compared to £101 being paid during the same period a year earlier, according to booking website Hotels.com.