Various news articles related to tourism and travel recently touched on how these sectors are beginnign to feel the effects of the current global economic climate. Johannesburg has enjoyed a huge influx of tourists in the last ten years, nevertheless the government recently announces that “The turmoil on international markets and the rising awareness of climate change is having an effect on the tourism industry”.
Another article referring to Barbado’s tourism sector, states how “Barbados is finding its important tourism and financial services sectors severely under threat from the global economic downturn”. Another article mentions an interesting issue: “…most tourists in EU and Europe travel by taking loans and using plastic money. But since crisis-hit banks there are hesitating to grant such loans at present, the business from these countries is bound to fall.”
And if you look at the recent hit Airbus is taking: Airbus’s 10-Month Orders Fall 34%, 119 Planes Dropped“, then something becomes clear - the tourism and travel industry around the globe is going to feel a very painful blow. And in turn this means thousands of service related jobs that live off the tourism industry are under threat too. Just think of all the bars, restaurants, nightclubs, hotels, souvenir shops, and entertainment businesses. Perhaps big companies like the Hilton are going to start demanding government bailouts too?
Image by: heydrienne under CreativeCommons
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