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Travel agents warned over economy at ITT Budget Briefing

Travel agents have been warned not to “over commit” themselves in the current economic climate.


Speaking at a Institute of Travel & Tourism Budget briefing in the House of Lords today economist and political journalist Peter Riddell told the travel industry that the


economy is to hit a tough period with consumer spending set to slow.  He also warned that the credit crunch and the economy was currently in “limbo” giving


the industry a period of uncertainty.


Riddell said:  “The best scenario is it’s going to be tough on consumer spending.


“The amount of available money is going to be squeezed.”


He suggested the economy was going to face a tight two or three years claiming it is a “gloomy message” for the travel industry as disposable income is going to be


squeezed and there is going to be a “period of belt tightening.”


Travel industry representatives at the briefing indicated that holiday bookings remained strong and were confident this would continue.

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