Travel and the Economy in 2008

In 2007, the real estate market shifted to support home buyers. Gas prices rise and the value of the US dollar falls, but the number of American travelers planning holidays in 2008 remains strong.

According to an article: Travel Trends: What’s Hot in 2008 by Beth Harpaz in the December 17, 2007 edition of USA Today “the Conference Council’s latest consumer survey found 45.8 percent of Americans intend to vacation in six months.”

Authorities throughout the travel industry seem to believe tourists in 2008 want to be practical, but still enjoy facilities that make holidays simpler and more relaxed.

“In 2008, experts said, Americans could travel shorter or choose destinations closer to home where their dollars are further away,” continued Harpaz.

Family Comes First: Family Travel in the Resurrection

In our fast-paced American culture, two income households, sixty hours of work a week, fast food and cell phones have become the norm – all to make life more comfortable. However, the modern conveniences of our daily lives now seem to require a lot of personal attention and energy. In response to the stresses of modern life have developed over the last century, Americans are now returning to their roots. The importance of time with family and healthy quality of life increases on the priority list.

Luxury travel industry expert Karen Weiner Escalera and his Florida-based travel marketing firm, KWE Group, are very confident that family travel is on the rise for 2008. In one of Escalera’s latest articles on Travel Industry Wire, Ten Luxury Travel and Lifestyle Trends for the year 2008, trend number two is “Relationships with family and friends are the center of attention.” According to Escalera, “Accelerating since 9/11 and driven by counterattacks against the contemporary world dominated by 24 hour work and inhuman technology schedules, family travel develops at a faster rate than all other leisure travel sectors.”

A recent survey of American Express travel agents also revealed a significant increase in luxury travel among families – 82 percent wanted upscale hotels with children’s programs and 56 percent traveled with child caregivers.

“Parents, grandparents and friends want to travel as a way to reunite, and to celebrate life’s important events. Business trips with the whole family will become commonplace as couples, while high-end business hotels and resorts will red carpet launched for families with special suites and villas, “added Escalera.

Rental Concierge Condo and Timeshares versus Second House Purchases

Modern travelers believe that there is no reason why home comforts are not available while on vacation. Holiday planning is greatly enhanced when you consider a concierge condominium rental or timeshare option. Many families especially appreciate the opportunity to save time and money when cooking in a private kitchen or receiving travel information and discounts from personal travel officers. This kind of facility allows tourists to spend more relaxed time and less time, map and make decisions about travel plans. Timeshare can offer the benefits of having a second home for vacation, without headaches during maintenance and costs throughout the year.

Recently, Howard C. Nusbaum, President of the American Resort Development Association (ARDA) told of his experience at the Travel Marketing Marketing Forum (TIA) Forum on Marketing View, an annual conference of travel and tourism professionals that highlights future industry trends. He explained how Peter Yesawich, Ph.D., CEO Yesawich, Pepperdine, Brown and Russell, explained during the forum that the latest Travel Monitor study completed by his company detailed a large number of tourists interested in condos rather than traditional hotels.

The study of travel monitors also shows an increase in the number of tourists interested in holiday ownership products such as private residence clubs and timeshare. The impressive data from the survey (Yesawich) adds to rumors that timeshares are no longer niche products, but are more of a diverse travel industry today.

In 2008, special products for holiday ownership will provide stiff competition for second home sellers because individuals, groups, and families traveling choose comfort and practical luxury while on vacation.