Would undermine signs of recovery in the economy

Rising fuel prices affect the tourism sector in the U.S.

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30 marzo, 2012 3 comentarios

Roger Dow, president and CEO of the Travel Association of America (U.S. Travel Association) has given warning that with increasing oil prices, consumers may alter their travel plans to control costs during the summer holidays and business people would travel less.
Dow says: «If travelers should spend more on fuel will be spending less on hotels, attractions, shopping and restaurants, which could have a negative impact on the overall economy,» adding that «we need to find solutions to reduce barriers that rising fuel prices are raising travelers. »
In a survey by the Travel Association of America, 54% of vacationers who plan to travel by car during the summer said that an increase in the price of gasoline affect your plans, and 57% said they would certainly change their plans if prices increase at least by 0.26 cents
Meanwhile, among the businessmen surveyed, 26.8% said that an increase in fuel prices will affect their business plans in the summer. Almost half of the travelers who would travel by car on their summer vacation said that an increase in fuel prices would make fewer trips.
19% of business travelers using cars too, would go less. As for air travel, 43% of travelers who plan to fly in the summer said a rate increase due to higher oil prices affect your vacation plans.
Among business travelers, the percentage is 25%. «It’s important to remember that along with the housing crisis, the rise in gas prices was one of the main factors that led the economy into recession in 2008,» said David Huether, senior vice president of Economics and Research at the U.S. Travel Association.
Huether said there is a «real possibility» that, should continue climbing fuel prices, Americans change and reduce their travel plans, which would undermine signs of recovery in the economy in recent quarters » .
Something that reflects the importance of fuel prices for consumers in the survey is that 43% of respondents said their votes for a presidential or congressional candidate in the fall would be influenced by the situation of tariffs in the energy sector .



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