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Travel market on the rising slope

Though Europe has been and still is facing one of the worst financial crises it has ever encountered, people do not necessarily just save their money and hope for the crisis to vanish over time. Instead, they tend to spend as much as they can before the days of the crisis.

Because of all the bad news that people are faced with all day – growing rates of unemployment, climate change and the need for saving resources as well as the threat of inflation – they want to treat themselves to something good and therefore continue to consume. Particularly interesting is the fact that one of the most rapidly growing and booming markets is the travel market. No matter which destination, traveling is in vogue. The ever-present crisis may have boosted this phenomenon insofar as people more than ever feel the urge to leave their home countries for a while and experience something new.

Skiing and the Middle East

It is difficult to name a certain trend concerning the most popular destinations. Apart from the always popular skiing holidays, trips to the Middle East are highly sought after, too. Between the years 2000 and 2010 alone the total numbers of visitors to the Middle East has more than doubled to over 60 million. Not all of the visitors come from abroad, however: The large majority of travelers are from the same region, making the travel boom in the Middle East homegrown. This phenomenon has a lot to do with the rise of wealth in countries like Dubai and the United Arabian Emirates. These countries in many regards offer the same opportunities as European metropolitan places. Extended shopping tours, exquisite hotels and all kinds of leisure activities can be enjoyed there to the same extent as in Europe. One trend, which manifests itself strongly these days, is that people tend to compare prices online on specific platforms such as, in order to get the best travel deals. Also they carefully read hotel reviews on the Internet and consult the opinions of other travellers.

A lesson to be learned

For the economy, it is a good sign that people keep spending their money as it is one of the best ways to handle the crisis. The situation would be far worse if people kept saving all the money they earned. Intercultural exchange and understanding are other positive side-effects of the boom in the travel market.

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