| Travel and the Economy | | | | a lifetime memory that a mundane trip to the beach |
| The other day I was surfing through classified | | | | can't. |
| advertising on the web. I was looking to answer | | | | But wait... there's more! |
| three basic questions: | | | | A secondary discovery on my journey through the |
| 1. What will an average family or travel group expect | | | | classified ads was the large listings of time share |
| to pay for a 5 day/4 night vacation? | | | | vacations for sale. The selling point of this type of |
| 2. What will they actually spend? | | | | vacation was individual ownership of a particular place |
| 3. What value do they expect to receive from the | | | | and time in the year when you could get away. But, |
| experience? | | | | these listings were offering the timeshare for |
| At present, the news media drones on about the sad | | | | sometimes half of the original purchase price. The |
| state of our economy and an out of control | | | | primary reason for selling was, "I am no longer using |
| unemployment rate of 9.5% (in some parts of the | | | | it." There is an apparent shift in vacation value... from |
| country 15%) and how we are in for a least two | | | | being together to experiencing something entertaining |
| more very grim years before our economy recovers. | | | | together. That shift is the reason the travel industry |
| But, somehow the travel industry has not | | | | is experiencing near exponential growth. |
| experienced the same downturn. | | | | If an entertainment vacation could cost the same or |
| Travel Industry Growth | | | | less than that trip to the beach, would you do it? |
| According to the latest Tourism Satellite Accounting | | | | The answer to the question is obvious. Of course! If |
| (TSA) research, world travel and tourism generated | | | | you could save 75% on an entertainment vacation, |
| close to $8 trillion in 2008, and is expected to rise to | | | | and 50% on the restaurant meals, would you book |
| approximately $15 trillion over the next ten years | | | | it? Again... of course! Because the vacation value of |
| while supporting 297 million jobs and 10.5% of global | | | | the shared experience is high and the cost is the |
| GDP by 2018 (travelindustrywire.com). For any | | | | same or maybe even a little lower. |
| industry this is stellar performance. | | | | The Travel and Vacation Package |
| Of course the bottom line reason for this success is | | | | Over the past fifteen years, several companies are |
| people still want to "get out of Dodge" and are willing | | | | now offering travel and vacation packages that |
| to pay for it. "How much?" and "Why?" were two of | | | | combine the best of both worlds... high value |
| the questions that took me to the classifieds. | | | | experiences with low cost. These packages are |
| Back To My Research | | | | different from a travel agency booking. The package |
| In my two-hour surf through the travel classifieds, I | | | | offers a series of discount travel cards and |
| found several discount vacations in a major | | | | certificates that allow you to book resorts, theme |
| destination from $700 to $1000. The prices were for | | | | parks, cruises, hotels, campsites, restaurants, and |
| the hotel stay only. Food and travel were extra and | | | | more for 50%-75% off. These are not travel clubs |
| could realistically be expected to double that price. So | | | | with monthly or annual fees. These packages are |
| the price of this 5 day/4 night getaway could easily | | | | offered for a one time price, usually less than the |
| be between $2000 and $2500. But, then I came | | | | cost of a typical week long vacation. The package |
| across something that was even more interesting | | | | usually contains the equivalent of thirty or more |
| and rooted in my third question. | | | | vacations, including restaurant discounts, that never |
| At first read, the three questions seemed to be in | | | | expire. Some of them are even transferable. Usually a |
| order of priority. We would assume that a family or | | | | package will include several bonus vacations that can |
| travel group would first come up with a budget and | | | | be given away. Often hotel rooms and condo rentals |
| then plan a vacation. Let's find a place in a scenic | | | | can be had for the cost of the room tax. While |
| location away from home. We can cook our own | | | | some results may vary, with a travel package the |
| meals to save money. Our budget is based on what | | | | charge for a $200 per night room could be as little as |
| we can afford, now what can we get? And the | | | | $25 a night... an incredible bargain. |
| second assumption is the vacation will realistically go | | | | Vacation and travel packages can be found on the |
| over budget by an anticipated percentage. These are | | | | internet, but be warned, what I've written about is |
| fair assumptions, but those assumptions go right out | | | | not a package from a travel agency for a one time |
| the window when seduced by the entertainment | | | | vacation. These packages come offered by an |
| vacation. | | | | association of business people who have negotiated |
| An entertainment vacation is a destination vacation | | | | the package through several travel vendors. The |
| to any of the world famous destinations, i.e. theme | | | | business association is NOT a seller of travel and |
| parks, Las Vegas casinos, International cruises, and | | | | therefore is not licensed to sell travel. What is sold is |
| the like. Because most families believe the shared | | | | travel and travel related discount packages that |
| experience of going to Disney World is so much | | | | provide discounted access to many travel and travel |
| greater, they are willing to double, even triple the | | | | related companies. |
| expense. The stay in a hotel and eat meals in | | | | These vacation and travel packages are by far the |
| restaurants, even drive a rental car if they flew to | | | | best in travel value and the shared vacation |
| the destination. The entertainment vacation promises | | | | experience. |