20 Oct

Consumer spending on travel will continue despite blow to consumer confidence

Luke Pollard, ABTA’s Head of Public Affairs commented on George Osbourne’s spending review today:

“The cuts announced today will undoubtedly land a blow to consumer confidence which will have a knock on effect on how consumers want to spend their money when it comes to holidays, but the message from the Travel Convention is that the travel industry needs not to be too pessimistic. Yesterday we heard from Douglas McWilliams, Founder and Chief Executive of the Centre for Economic and Business Research at our Travel Convention in Malta. He predicted that while the economy in the UK means British disposable incomes will be suppressed in the immediate future, current austerity will force consumers to spend smart in order that they can continue to have money for ‘new’ essential items such as travel. 

“Clearly value for money will be key to holidays over the coming year, but our Members and partners are also telling us that holidaymakers want to be able to trust the companies they book with which is why holidaymakers can be reassured when they book with ABTA Members that they will receive high professional standards, value and quality.

“We also heard at the Convention that spending on travel will be one of the stronger sectors of the economy over the coming years as well as being a sector that will be key to job creation.”