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Thursday
… DOUBLE HEADER … NOBODY CAN AFFOR
November 13
WTM
Climb Out
Leads the
way on
of Crisis
Professor Norbert
Walter clearly has
a head for heights
and is bringing
all major
his massive
experience to
World Travel
issues
Market for a high-
level brains trust
Economic guru heads fi ghtback
WORLD TRAVEL MARKET is flying in the top global economic
assiduously to take up the opportun- a dramatic drop in customers. then it is dire for airlines and the
‘maestro’ to help businesses fi ght the fi nancial meltdown.
ities that will definitely come their way, Despite the worsening short-term industry, but thankfully it has
Professor Dr. Norbert Walter, chief economist at Deutsche
can emerge from this diffi cult climate outlook, though, Walter stresses that retreated but still at way over $100 a
in the best possible shape.” the future is a bright one. barrel.”
Bank Group and former director of the renowned Kiel Institute Everything points to deepening Tourism will continue to grow. He Strickland explained that if oil prices
for World Economics is key speaker at World Travel Market’s
problems for the industry, underlining explains that pent-up demand in a decline moderately, then the prospects
Global Economic Forum.
the hike in oil prices. One in 14 of the number of Asian and eastern European for travel and tourism next year remain
world’s airlines expect to be axed from countries, increasing prosperity and an good.
The forum, on Thursday 13 November the forum to communicate with their next month and pundits are predicting ever growing move towards more, not “The global airline industry is
at ExCeL London, is vital for senior and colleagues and boards. a seven per cent drop in the number of less travel, particularly for the over negatively affected by weakening
middle industry management in all “It will help business to plan for flights offered in the last three months fifties, are all encouraging reasons for demand and declining capacity
sectors. 2009 but also 2010. of this year. Inevitably, this will lead to a positive longer term outlook. utilisation on the one hand and by
Experts with an inside industry track “Company’s that accurately more consolidation and less routes. This is backed up by news from higher operative costs due to rising jet
on the impact of the credit crunch will anticipate when and how the current Carriers are also facing the dilemma the UNWTO which claims that fuel prices on the other hand,” adds
forecast when the upturn is going to turbulence will subside and plan of whether to increase prices and risk international tourism in emerging Strickland.
come. markets is growing at twice the rate of ”The airlines’ share of fuel cost in
Also speaking will be John Walker, industrialized countries such as the UK. total expenses has already increased to
chairman of Tourism Economics However, this may be to the detriment more than 30% in 2008.”
and Oxford Economics and one of of Britain’s industry. Peter Hobday, one of the world’s
the world’s leading travel industry One of the main problems for foremost economic BBC journalists,
analysts, well known airline industry airlines is not the credit crunch but the is chairing the two-hour forum.
consultant, John Strickland and accelerating cost of oil, according to He presented Radio Four’s fl agship
respected senior industry fi gure Jean- Global Economic Forum speaker and programme Today’ for 14 years and
Claude Baumgarten, president of the airline specialist, John Strickland. was the anchor man for the award
World Travel & Tourism Council. “Consolidation will be a trend, “ he winning Money Programme.
“Nothing can be more vital to UK said, “as will the dropping of marginal Fees for WTM’s Global Economic
businesses than this major business routes, while carriers will have a diffi cult Forum are: £59 plus VAT before
event,” says Fiona Jeffery, chairman of time juggling a desire to increase prices 30 September; £79 plus VAT after 30
World Travel Market.
Chairman Peter Hobday takes the centre stage here flanked by panellists
while satisfying continued demand for September; £99 plus VAT for bookings
“Companies must ensure that they
Jean-Claude Baumgarten (left) and John Strickland (right)
cheap fares. made at ExCeL London during World
have at least one representative at “If the price rises to $200 a barrel Travel Market.
Book now by logging onto www.wtmlondon.com/gef Plantinum Suite 4, 11.00hrs
WTM08advertorial1 TTG 2.indd 2-3 12/9/08 11:37:49
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