Travel Enthusiasm Still High, Despite Economy
Oct. 10, 2008. Current economic conditions may not be enough to dampen people's need for travel. In a current Travelocity poll, 78% of respondents said they still plan to travel over the holidays this year. This could be a sign of consumer resilience. It may also be a sign of consumer savvy - there will no doubt be some deals this winter, as hospitality businesses reach out to ensure their survival.
We think there will be quite a few deals, from snow resort lift tickets in Colorado to theme parks in Florida. We'll be keeping an eye out and reporting on anything we see.
Two other signs of silver lining:
Gas prices - With the cost of a barrel of oil falling fast, the numbers at the pump are following. This will make it cheaper to drive this winter than it's been for the past several months, and some forecasters are predicting a return to prices in the low threes.
A strong dollar - As the slowdown goes global, investors are rushing back to the dollar in droves, a sign that the United States is still the most respected world power. That means the dollar is back, and trade rates are once again becoming favorable to Americans.
