https://www.breakingtravelnews.com/tags/tag/recession/ Recession News en Breaking Travel News Copyright 2026 2026-04-19T08:51:13+00:00 https://www.breakingtravelnews.com/news/article/londons-oldest-tour-operator-goes-bust/ https://www.breakingtravelnews.com/news/article/londons-oldest-tour-operator-goes-bust/ London’s oldest tour operator, the Travel Club of Upminster, has gone into administration after “very difficult trading conditions” left it unable to guarantee payments to overseas supplies. Thu, 30 Sep 2010 07:54:15 +0000 https://www.breakingtravelnews.com/focus/article/otas-vs.-hotels-with-the-recession-comes-a-major-reset/ https://www.breakingtravelnews.com/focus/article/otas-vs.-hotels-with-the-recession-comes-a-major-reset/ The U.S. hotel industry has suffered greatly amid the U.S. recession. Total hotel room revenue has been in freefall with double-digit declines for 2009. Tue, 01 Dec 2009 17:13:55 +0000 https://www.breakingtravelnews.com/news/article/the-middle-east-business-jets-market-has-its-cash-registers-ringing/ https://www.breakingtravelnews.com/news/article/the-middle-east-business-jets-market-has-its-cash-registers-ringing/ Despite the global economic slowdown that adversely affected the commercial aviation industry worldwide, the Middle East has been one of the few markets to register growth. The air taxi business is expected to be a major driver for this market. Tue, 24 Nov 2009 11:13:02 +0000 https://www.breakingtravelnews.com/focus/article/despite-recession-chinas-online-travel-market-shows-strong-steady-growth/ https://www.breakingtravelnews.com/focus/article/despite-recession-chinas-online-travel-market-shows-strong-steady-growth/ Despite the global recession, the online travel marketplace in China is growing rapidly and PhoCusWright predicts online travel revenue will increase by 19% in 2009. Wed, 21 Oct 2009 19:23:05 +0000 https://www.breakingtravelnews.com/focus/article/american-airlines-teams-up-with-the-next-iron-chef/ https://www.breakingtravelnews.com/focus/article/american-airlines-teams-up-with-the-next-iron-chef/ As recession conditions linger, the travel industry continues to seek out ways to reach, and excite, its audience into parting with discretionary dollars. American Airlines thinks food could be that special ingredient. Mon, 05 Oct 2009 16:10:34 +0000 https://www.breakingtravelnews.com/news/article/health-related-tourism-catching-on/ https://www.breakingtravelnews.com/news/article/health-related-tourism-catching-on/ In these economically challenging times, many experts say it is vital to invest in preventative healthcare. Better overall health means lower medical bills. Thu, 24 Sep 2009 10:30:52 +0000 https://www.breakingtravelnews.com/news/article/global-visas-announce-123-increase-in-british-workers-emigrating-to-austral/ https://www.breakingtravelnews.com/news/article/global-visas-announce-123-increase-in-british-workers-emigrating-to-austral/ Thanks to the recession here in the UK (along with the weather) many people are packing their briefcases and leaving the country for a life down under. Global Visas, who provide immigration and visa advice for professionals, have seen a 123% increase in the number of British customers seeking to acquire an Australian work visa in the past year. Fri, 18 Sep 2009 18:50:44 +0000 https://www.breakingtravelnews.com/focus/article/travel-stocks-takeoff-on-wall-street/ https://www.breakingtravelnews.com/focus/article/travel-stocks-takeoff-on-wall-street/ The great subprime recession is over. Federal Reserve Chief Bernanke says so. Wall Street says so. Airlines are gearing up for a massive recovery. Hotel stocks are getting buy ratings from analysts. Vegas is back. Travel stocks across the board are zooming into the stratosphere, and we’re now in the initial stages of a sustained recovery. Thu, 17 Sep 2009 00:02:19 +0000 https://www.breakingtravelnews.com/news/article/alaskan-cruises-in-deep-water/ https://www.breakingtravelnews.com/news/article/alaskan-cruises-in-deep-water/ As the worldwide recession hits every type of travel industry like airlines, car rentals and hotel occupancy, cruises in Alaskan waters are also taking a downturn. However with the cruise ship business it makes up a considerable amount of the tourism revenue for the state. Fri, 07 Aug 2009 09:25:33 +0000 https://www.breakingtravelnews.com/videos/video/video-tourism-ireland-takes-on-the-global-economy/ https://www.breakingtravelnews.com/videos/video/video-tourism-ireland-takes-on-the-global-economy/ Joe Byrne of Tourism Ireland discusses the economic challenges that face Irish Tourism and the marketing strategy used in the midst of the recession. Tue, 28 Jul 2009 16:58:55 +0000 https://www.breakingtravelnews.com/news/article/btn20090605110551661/ https://www.breakingtravelnews.com/news/article/btn20090605110551661/ UK hotels are starting to see the light of the long dark tunnel, according to new research from business advisory specialist, Deloitte.Whilst revenue per available room (revPAR) remains negative, the pace of decline is reducing and some markets are showing gains on 2008 numbers with strong leisure demand driving up weekend occupancies and revenues, say the new figures. There is also a trend of improving performance in the weekday corporate business market in London. Fri, 05 Jun 2009 16:05:12 +0000 https://www.breakingtravelnews.com/news/article/btn200905071308041/ https://www.breakingtravelnews.com/news/article/btn200905071308041/ The current difficult economic context has led to a dramatic decrease in air traffic. This has been particularly strong for European Business Aviation traffic which is down 20% compared to a year ago. Thu, 07 May 2009 07:08:12 +0000 https://www.breakingtravelnews.com/news/article/btn20090313090650727/ https://www.breakingtravelnews.com/news/article/btn20090313090650727/ A new survey of business leaders finds that while corporate travel budgets are often the first target of cost-cutting measures, a majority believe that companies that increase travel budgets during an economic downturn will be better positioned to build competitive advantage. Wed, 18 Mar 2009 14:06:50 +0000 https://www.breakingtravelnews.com/news/article/btn20090316123032540/ https://www.breakingtravelnews.com/news/article/btn20090316123032540/ Internet bookings are set to surge in the downturn, according to new predictions in the latest trends report from ITB Berlin.The demand for domestic travel will stay stable or grow, as will the demand for low-cost flights, but long-haul will fall sharply, and there will be much pain felt in thebusiness travel and MICE sectors. Tue, 17 Mar 2009 12:30:55 +0000 https://www.breakingtravelnews.com/news/article/btn20090313084348230/ https://www.breakingtravelnews.com/news/article/btn20090313084348230/ Shares in airlines and travel operators remained sharply lower yesterday with investors uncertain after two leading executives warned the recession may damage tourism for the next two years. Fri, 13 Mar 2009 08:43:37 +0000 https://www.breakingtravelnews.com/news/article/btn20090210162124262/ https://www.breakingtravelnews.com/news/article/btn20090210162124262/ There can be precious few in the travel industry that aren’t being rocked by the global recession, and arguably fewer still that saw it coming. Even as late as last spring, many experts were adamant that the saying “When America sneezes the rest of the world catches a cold” was old hat in a brave new economic world where China, India and the Middle East were the only players that now mattered. Tue, 10 Mar 2009 16:21:20 +0000 https://www.breakingtravelnews.com/news/article/btn20090220113800887/ https://www.breakingtravelnews.com/news/article/btn20090220113800887/ Latest figures released by the Tue, 24 Feb 2009 12:38:58 +0000 https://www.breakingtravelnews.com/news/article/btn20090219115520181/ https://www.breakingtravelnews.com/news/article/btn20090219115520181/ Millennium & Copthorne has revealed the full extent of the global downturn as profits and revpar tumble, with trading in the new year being particularly weak.The upmarket hotel chain, owned by the Singaporian billionaire Kwek Leng Beng, said it was implementing a recruitment freeze across its 103 hotels, cutting back on new capital expenditure and slashing its dividend by 50 percent. Thu, 19 Feb 2009 13:20:06 +0000 https://www.breakingtravelnews.com/news/article/btn20090210163441613/ https://www.breakingtravelnews.com/news/article/btn20090210163441613/ There can be precious few in the travel industry that aren’t being rocked by the global recession, and arguably fewer still that saw it coming. Even as late as last spring, many experts were adamant that the saying “When America sneezes the rest of the world catches a cold” was old hat in a brave new economic world where China, India and the Middle East were the only players that now mattered.Less than a year on, however, and across all global markets, travel leaders are battening down their hatches as the perfect economic storm engulfs even the most established of brands. Thu, 12 Feb 2009 09:34:54 +0000 https://www.breakingtravelnews.com/news/article/btn20090209113048188/ https://www.breakingtravelnews.com/news/article/btn20090209113048188/ Companies are radically cutting back on business travel as a way of aggressively cutting costs to cope with the recession, according to three new surveys.Some 47 per cent of the UK-based executives will be travelling less in the next 12 months, according to the Economist Intelligence Unit. The Business Travel Show came up with similar findings, showing 38 per cent of business travel buyers that they were reducing spending this year. Wed, 11 Feb 2009 13:30:52 +0000 https://www.breakingtravelnews.com/news/article/btn20090210162719770/ https://www.breakingtravelnews.com/news/article/btn20090210162719770/ There can be precious few in the travel industry that aren’t being rocked by the global recession, and arguably fewer still that saw it coming. Even as late as last spring, many experts were adamant that the saying “When America sneezes the rest of the world catches a cold” was old hat in a brave new economic world where China, India and the Middle East were the only players that now mattered.Less than a year on, however, and across all global markets, travel leaders are battening down their hatches as the perfect economic storm engulfs even the most established of brands. Tue, 10 Feb 2009 16:27:14 +0000 https://www.breakingtravelnews.com/news/article/btn20090202135416226/ https://www.breakingtravelnews.com/news/article/btn20090202135416226/ Russian hoteliers could be in for a bumpy ride this year, after Moscow experienced the first signs of the economic downturn, with a five-point drop in chain hotel Occupancy Rate (OR) for 2008, reaching 70%.Average Daily Rate (ADR) ended the year at €251, only a 5% increase compared to 2007, whilst Revenue per Available Room (RevPAR) decreased slightly to €175, according to latest figures from MKG Hospitality. Mon, 02 Feb 2009 16:35:40 +0000 https://www.breakingtravelnews.com/news/article/btn20090112113558326/ https://www.breakingtravelnews.com/news/article/btn20090112113558326/ 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. Mon, 12 Jan 2009 13:35:43 +0000