Using the Recession as an Opportunity in the Travel Business

using-the-recession-as-an-opportunity-in-the-travel-businessTimes are tough, there’s no doubt about that. Though families and businesses are all feeling that, some industries are being hit harder than others. One of the hardest hit industries of late is the travel and airlines specifically. With budgets tight and travel happening less frequently, the travel industry has been working hard on a recovery plan for years. Ever since the events on 9/11, the world has been a different place. That holds especially true in the travel world where people are less apt to travel out of fear and out of budgetary constraints.

A Pep Talk in the Industry

Recently the head of spoke to key officials and industry experts about what it takes to turn the recession into a positive and an actual opportunity. Hugo Burge spoke to a crowd about what his company has done to persevere in a tough economy and cited examples that have worked well within the industry. A company like Expedia taking less of a booking fee is just one example cited that goes to show that one measure can mean business won. It really can work, but it involves a rather significant change in mindset and that’s been tough for some travel companies.

Though people may be travelling less, that doesn’t mean that travel companies and airline carriers can’t find an opportunity to rise. Focusing in on the right markets, taking less of a profit to bring in new business, and keeping existing business satisfied are just some ways that travel companies can rise above the economic climate. Though people are still travelling, they want to get a true value for their money spent. They also want to find the best deals out there, so they want to work with companies that understand the changing needs.

Finding a Winning Strategy

So whether it’s partnering up with the right companies or focusing on what it takes to offer the very best deals to travellers, there is a way to turn a rough economic climate into an opportunity. The travel companies that understand that philosophy are already creating and incorporating a strategy, and working towards success. This change in mindset is sure to help the big players rise above the rest in a rough economic climate.