Wednesday, January 15, 2014

Recession Recovery for Travel Industry

According to Successful Meetings, the travel industry is just 5,000 jobs shy of a complete post-recession recovery. That is excellent news!  Incentive travel took such a huge blow around 2009. In addition to the overall downturn due to the economy, the incentive industry was hit hard by the press surrounding AIG, Wells Fargo, et al who were publicly lambasted (justly or not) for sending their people on "boondoggles". These two things combined for a significant industry impact that saw massive layoffs, closures and struggles for many companies. I know we felt it as did many in our business circles. There were several very lean years and many incentive companies couldn't weather the storm. In the last year or so we have felt it getting better.  It's wonderful to confirm it in hard numbers and to know people are able to go back to work in this great industry. Hooray!

- Anjee

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