H2 2009 "a time for cautious optimism" - Abacus
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Abacus International has expressed cautious optimism for the beginnings of a recovery in the travel industry over the coming six months and highlighted the potential to convert challenges the industry is still facing into opportunities.
Speaking at an exclusive event in Singapore, Abacus’ President and CEO, Robert Bailey, revealed the latest ‘Abacus Travel Insights 2H09’ report, which highlighted better-than-expected results in travel segments such as online bookings, low cost carriers, high performing markets such as Vietnam, a new trend for earlier booking lead times and a growing focus on intra-Asian and domestic travel.
“It’s true that there is evidence of green shoots sprouting and lining the path that the industry is travelling on right now, which is great news,” Bailey said. “However, this road is still likely to be a bumpy one, leading Abacus to forecast 4-6% less travel bookings for 2009 when compared to a similar period in 2008.”
Despite this, Bailey reiterated his optimism for the future. He noted that FIT bookings fell just 3% compared in H1 2009, perhaps demonstrating “some of the signs of recovery”.
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