As the millennium creeps up on us I think it is about time someone highlighted the number of unbonded organisations taking advantage of the travel industry’s inflated prices for millennium products.
Agents should be asking themselves whether they can really rely on their suppliers or face the possibility of being in a situation like the scandal surrounding the World Cup tickets in France last year.
One of the biggest dangers comes from those non-bonded organisations who set up for events like this and then, inevitably, some end up going bust – in many cases taking their deposits with them.
And if they don’t go bust, they simply do not provide a quality product.
In my opinion, this disappointment factor is sure to affect a great number of people. How many agents can guarantee their product will live up to expectation and offer value for money?
Ithink many companies will be facing a loss in revenue if they are unable to deliver the kind of top-class product they and their agents have been promising clients.
Short-term greed has taken hold of many companies and the end result will only be a loss of consumer confidence in the long term. What risks are you taking?
Jonathan Wall
Elman Wall Chartered Accountants
London