Figure 5.22
Tour operators and travel agents: expected impact of economic crisis on business (% of respondents*) 80% 70% 60% 50% 40% 30% 20% 10% Don't know
Grants & loans more expensive
Harder to obtain financial services
Inflation of price
Guests spend less
Decreasing demand
0%
*: the results refer to the group of respondents that answered “yes” to the question “Do you expect any impacts of the current economic situation on your business in the near future?” Source: SME Panel Survey 2009
Half of the respondents expect the need to undertake major actions to be able to address impacts of the economic crisis and more than a quarter thinks this would possibly be the case. Both groups of respondents mention cutting costs most frequently (Figure 5.23), followed by a reduction in the labour force and the postponing of investments. Tour operators and travel agents: measures to be undertaken in near future to address economic crisis (% of respondents*) 70% 60% 50% 40% 30% 20% 10%
Other
Reduce services
Take loans
Increase prices of services
Postpone investments
Reduce labour force
0% Cut costs
Figure 5.23
*: the results refer to the group of respondents that answered “yes” to the question “In the near future (in 2009), will you have to undertake major actions in order to be able to address impacts of the current economic situation?” Source: SME Panel Survey 2009
The business outlook for 2009 is negative for 38% of TO & TA SMEs in the survey, but on the other hand a third thinks it is positive. Almost 5% has a very negative outlook. Tour operators and travel agents are more positive in this regard than the accommodation sub-sector, but in line with the tourism sector as a whole.
FN97613 – FWC Sector Competitiveness – EU tourism-industry
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