The UK travel industry is getting ready for a low growth rate and continued subdued confidence in 2011 according to a new survey from the Barclays Corporate Travel Forum. Despite this fact, many travel companies are still optimistic that they will see some growth over 2012 and 2013.
The poll was spread over 110 senior travel industry executives with almost 66% reporting that they felt consumer confidence would stay the same or possibly decrease over 2011. Only 38% predicted that consumer confidence that would grow. A low 43% felt that business conditions would improve next year.
Operators however felt some confidence in this year’s prospects with 23% predicting that they would see a twenty percent increase at the end of 2011 and 35% reporting that they would see a ten percent increase in their sales.
Overall, the long term prospects for the year were high with 73% of travel companies predicting that business conditions would start to improve in 2012 over the year with 85% of those surveyed predicting that business would be better in 2013.
Chris Lee, the Barclays Corporate Head of Travel stated that travel companies are becoming more confident in long term prospects as people in the UK still consider a holiday an essential instead of just something they want.
Lee continued to say that while there is not a clear consensus on what the industry would be like in the next few years, there is still a general belief of resilience that would result in a strong industry.
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