Travel agencies: say it is difficult to make estimates for 2009

“We will surely register stagnation, but I do not believe there will be a drop. I am a little afraid of what will happen, but I cannot shut the door and walk away. We will have to wait for the panic to pass,” Alin Burcea, owner of the Paralela 45 travel agency, told Business Standard.

A possible solution for saving several local travel agencies from bankruptcy would be a partnership between market players to use resources more efficiently.

Gabriel Ionescu, General Manager of the Happy Tour travel agency, the largest player on this market, said that the tour operator segment will be subject to a series of bankruptcies. “When facing a financial crisis, companies are being more careful, they will choose serious partners, which will bring a competitive edge to strong companies. Even if volumes will be low globally, the travel market will consolidate,” Ionescu said.

Burcea added that the number of people going on holiday will increase, but not the level of money spent. “Those who are still going on holiday are looking for something less expensive,” he added.

Former statements by officials of the National Association of Travel Agencies (ANAT) indicate that the business travel segment could be most affected by the financial crisis, as a drop of up to 10 percent is expected for 2009.