Article by Ben Martin in The Telegraph
Highlights:
Lots of bad news for the travel industry this summer, especially in Europe and Africa:
- Terrorist attacks in France, Belgium, Germany, Tunisia
- Airliner bombing in Egypt
- Failed coup in Turkey
- UK Brexit vote
- Air traffic controller strikes in France
Impacts - Negative:
- Shares of airlines and tour operators have plunged
- IAG issued profit alert immediately following Brexit vote.
- easyJet costs have risen 40% since Brexit vote because of loss of value of the pound.
- OTA Low Cost Holidays failed
- Intercontinental Hotels RevPAR down 19.5% in Paris in 1H2016
- Europe travel alerts issued in USA, Asia
- Ryanair has had to reduce fairs by 10% to "stoke demand".
- Thonas Cook has slashed Turkey capacity by 40% following coup attempt.
Impacts - Positive (?):
- BHA: UK tourism industry could start enjoying benefits of the weak pound by year's end.
Impacts - Mixed:
- Brits are shifting overseas holiday plans from "traditional" European destinations to "safer" destinations like Spain, North America, western Mediterranean.
