The Travel Industry Suffering Economic Downturn


The world wide economic slowdown has affected many sectors of commercial activity. Too many people all over the world have become sufferer of this globally disaster. The Indian tourism industry is one of them which are suffering hard time in this global meltdown. Cancellations of airline flights booking and hotel booking, half empty flights, unemployed guides and low occupancy at many hotels are all significance of world wide recession. In the past two years many big players had spending excessive money in the traveling industry of India. The new brands which were launched in the past two years failed to calculate the accurate demand. They had invested big amount in the travel industry but the globally economic slowdown changed the entire scene of travel industry.

The various factors which are responsible for this situation. Hike in oil prices which had gone over the roof. The terror attack on Mumbai sent a completely wrong message to all tourists who travel to India by availing flights to India from all over the world.

India which is the seventh largest country in the world is counted among the ten best destinations in the world in terms of tourist arrivals. Currently India stands at position 42 with which attract 5.2 million tourists from every corner of the world. France, Spain and the United States are at number one, two and three tourist destinations, as per the statistics of 2008. Many factors are responsible to make a country number one tourist destination. Terrorism is one of the big issues which affect the number of tourists in a particular region. If we exclude the Mumbai terror attack in India then this country is also a top priority of all tourists from all over the world. The Taj Mahal and many different potential places attract the tourists from all over the world. The flights to India make their ways easier to reach this tourist destination.