Jane is taking out her crystal ball and predicting that 2009 will be the year of the traveler. Hear Jane out. Despite the economic slump, or perhaps more to the point, because of said slump, travelers of the business and leisure persuasion are going to find deals this year. Maybe not so much on domestic airfare, because the airlines have managed to cut their capacity to meet shrinking demand. But Jane expects that hotels, tour packagers, and other travel related entities may well be dropping their prices or giving travelers extra incentives in order to boost business.
In a previous column, Jane noted the rapid drop in New York City hotel prices since October. Las Vegas has followed suit, and prices in other major business cities are staying steady or going down as well. Additionally, there are now more hotels going after fewer travelers, given that the development boom of the early 2000s is now bearing fruit with the opening of new properties. So, the supply demand equation is currently in favor of the traveler.
Gas prices, of course, have plummeted, so road trips will be cheaper. (And if you are in the market for a new car, now's the time to buy. Jane has seen several dealerships offering things like 0% interest on loans; buy one, get one free deals; and more).
Internationally, the dollar, for economic reasons unclear to Jane, has been beefing up overseas. That means Americans can finally go to Europe and buy more than a burger and a banger for ten bucks. Getting overseas may be reasonable as well. As U.S. carriers seek to garner a larger share of the lucrative international market, competition is heating up. And more competition is always good news for the consumer.
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