Bed and Breakfast | Industry Analysis
INDUSTRY ANALYSIS
Travel Trends
Given the current condition of the U.S. economy, attention has been given to the impact of a recession on the travel industry. Information obtained from the U.S. Data Center was studied to get a better perspective on how the industry fared and how consumer behavior changed during past economic recessions.
The 1989-90 Economic Review of Travel in the United States revealed that the travel industry endures recessionary periods relatively well. In fact, when dealing specifically with volume, the first eight months of 1990 showed an increase of 3% over the previous year. Although the last quarter was expected to post a downturn, the Center cites past consumer performance, as measured during the 1981-82 recession, as hopefully being able to predict individual trends.
During 1982, travelers combined vacation trips with business trips and appeared to explore other ways to continue an activity that had become an...
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