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Travel companies advised not to cut prices immediately

6 March 2009

Based on a poll of 2,000 British consumers, PwC notes that people were increasingly unwilling to commit to a holiday months ahead, even though they were still determined to take a holiday.

The PwC poll, however, indicated that people were preparing to wait for the late deals, which were performing well. Industry is doing its best to reverse the trend with exclusive deals, reduced capacity and increased differentiation in their product.

Consumer willingness to downgrade, but not cancel, their holidays was a sign that people looked forward to escape the recession, offering a sign of hope for the travel industry.

source: DI-VE

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