p16 abta oct3 30/9/08 17:11 Page 16
news
ttglive.com
Abta 2008 preview
October 6-9 ■ Gran Canaria ■
ttglive.com/abta
‘Older consumers hit hardest by crunch’
Lee Hayhurst.
“We found older people have lower confidence Preston’s session on the first day of the con-
CONSUMER confidence took a significant dip than younger groups. This is probably because vention, entitled “Innovation begins at home”,
between April and June. Older people are they have been through recession before, and has been extended to allow him more time to talk
becoming more wary about spending on are more exposed to problems in the financial about the impact of the economy on travel.
holidays. But, for most people, a holiday is now markets as they rely on the realisation of asset He will start by revealing the results of econo-
a semi-discretionary spend. values for their income.” metric modelling of forecast figures that will be
These are some of the findings of a Price- Preston said PwC’s research results on spend- unveiled by Mark Pragnell, managing director of
waterhouseCoopers survey that delegates at ing priorities backs up the assertion of large the Centre for Economic and Business Research.
next week’s Travel Convention will hear about. operators, including Tui Travel, that holidays are “We will be able to plug Mark’s figures into
PwC surveyed 2,000 UK consumers and found considered more of a necessity. models and tell delegates what that means for
a mix of news for the travel industry. “If you are struggling a bit more for cash and travel in terms of number of trips and what
Its head of travel, Malcolm Preston, said: “The the kids are used to going away in summer, consumers are going to spend,” Preston added.
decline in consumer confidence happened be- you are under a lot of pressure. Travel gets cut
cause of a string of bad economic news stories. after things such as new furniture,” he said. ■ Agents’ guide to Convention, pages 44-46
GUEST SPEAKER.
T
AKE
P
ART!
Economics writer
to close the event
THE final speaker at the
convention will be financial
journalist and best-selling
author Tim Harford.
He will talk about the
economy and how it is
affected by decisions indi-
viduals make about how
they lead their lives. Tim Harford
Harford writes the
regular Undercover Economist column in the
Financial Times Magazine, where he attempts to
resolve readers’ personal problems using the
latest economic theories.
He also presents the BBC programme Trust
Me, I’m an Economist, which applies economics
to everyday events.
His first book, The Undercover Economist,
FORMULA TRAVEL: Delegates will have the chance to indulge their inner boy or girl racer became a bestseller in the UK and US, and he
for the first time at Abta’s annual gathering. They can whizz round the Gran Karting Club was awarded the Bastiat Prize for Journalism for
at Tarajillo at speeds of up to 80mph and compete for first, second or third prize and a promoting economic understanding. His second
Fair Play award. The event takes place on Monday, October 6, and the entry fee is £32, book, The Logic of Life, was said to uncover “the
including eight training laps and two races of 10 laps. For more information and to sign new economics of everything”.
up call 01920 873030, or email
moreinfo@thetravelconvention.com ■
thetravelconvention.com
16 03.10.2008
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