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Travel-industry experts hypothesize that employees may be opting out of summertime travel this year, out of concern that their jobs will be deemed unnecessary or easily replaced while they are out of the office. What's worse? Coming back from a week in the mountains to find a mountain of work, or a boss newly cognizant of the fact that you're not as indispensable as everyone thought! Nervous workers appear to be fearing the latter, and whether or not this is driven by paranoia and panic, the travel market is suffering.
"People are scared of losing their jobs and want to stay in touch with their work," one travel expert told The Washington Times. Another noted that ". . . people feel guilty about indulging themselves and are nervous to leave their office for too long." And one New York-based advertising firm's survey showed that just over half of parents asked said they planned to cut down on vacation spending.
Of course, other fears play into this. Consumers are cutting costs in general across all sectors, and those already unemployed are obviously less likely to spend on discretionary travel. Those who are getting away are taking shorter vacations or choosing destinations that are closer to home.
And with decreasing demand comes improved supply, so people who have the travel bug can get great deals now; some cruise lines are offering cash credits, and certain hotels are providing a fifth night free with a four-night stay. And don't forget that gasoline prices are lower than year-ago levels, making flying and driving a bit easier on the wallet.
Beth works for The Options News Network (www.ONN.tv), which provides daily options commentary. The above comments are not intended as trading or investment advice.
And with decreasing demand comes improved supply, so people who have the travel bug can get great deals now; some cruise lines are offering cash credits, and certain hotels are providing a fifth night free with a four-night stay. And don't forget that gasoline prices are lower than year-ago levels, making flying and driving a bit easier on the wallet.
Beth works for The Options News Network (www.ONN.tv), which provides daily options commentary. The above comments are not intended as trading or investment advice.
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Reader Comments (Page 3 of 3)
5-26-2009 @ 5:08PM
ramseph said...
I have a "crappy" job that pays about 46K a year. but if they fired me for any reason, I would leave it laughing because I don't care for it whatsoever...I can get another one in just about a week. crappy driving jobs are the best because you can jump from one to the next without taking crap from anybody. and, best of all, no boss breathing down your neck.
5-26-2009 @ 6:16PM
JOE HARRISON said...
Doesn't quite go along with todays story that consumer confidence rocketed does it? I think the "plunge protection team was at it again today.
5-27-2009 @ 1:19AM
rainman said...
Its funny how uaw people are here saying how good it is to be union when their companies can't afford to pay them and are going bankrupt.
Take a UAW vacation and get overpaid and when your company goes bankrupt, beg the taxpayers for money.
I got an idea... lets all take go after the UAW for money to pay OUR salaries so we can tell them what a success that makes us!!!
5-27-2009 @ 1:33AM
rainman said...
If your company doesn't need you and can't pay your wages, makes sense that a company does what it has to to make profit and survive.
If ALL american companies were UAW, All American companies would be bankrupt and OBAMA would hand out TRILLIONS & TRILLIONS more dollars to fund an obsolete workforce, America would TOTALLY financially collapse.
Thank God UAW are only a small part of the America workforce and is shrinking!
6-17-2009 @ 4:31PM
Frank45 said...
Hey Johnny, seems like you absolutely enjoyed your adult vacation at charlisangels. How can I contact you, because I would like to visit this resort and can be helpful any info regarding this all inclusive resort.