J’Info Tours: Holiday budgets hit by harsher lending rules

“As of this year, a 10-15 percent decline will be visible, and I think this will exceed 20 percent next year. Firstly, people must take care of their vital needs and, at this point, this is a home. Housing prices have risen significantly lately and chances of obtaining a loan have dropped. If rental prices also rise, people will think twice before allocating money for a holiday or a home,” Pavel told Business Standard.

The decline in leisure travel is also being felt globally. In the U.S., people are spending less time on holiday, Pavel explained.

In the first six months of 2008, the turnover of J’Info Tours, one of the main travel agencies locally, increased by 30 percent year-on-year, especially due to the business travel segment.

“More than 55-60 percent of the business comes from companies. We also manage holidays for company employees,” Pavel said.

Main competitors of J’Info Tours on the local market are Marshal Turism, Eximtur, Paralela 45, Aerotravel and Happy Tour.