2008 to continue growth momentum: Abacus
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Setting the growth figures at five to six percent, President and CEO Don Birch said, there is a lot of activity in the industry that counters the negativity.
Speaking at a media session in Singapore yesterday, Birch said robust capacity, liberalisation and spending power are keeping the momentum going.
“The continued growth is a positive indication of the maturity and robustness of the region’s travel and tourism industries,” he said.
He cited the healthy plane orders by airlines which continue to provide new capacity. Add to that, the aggressive expansion strategies of low-cost carriers.
“From prior experience, LCCs don’t tale business away from the traditional carriers. They stimulate the market and traditional carriers take advantage of that and make adjustments,” he said.
His advice to travel agents?
“2008 is a year for strategic thinking.
“Travel agents will need to work hard to capitalise on past gains and continue to grow their business over the coming months. This means a move towards diversification of product offerings and strategies to deal with an increasingly fractured travel distribution sector.”
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