Orlando 2008 Travel Industry Outlook
The housing market is slipping, the economy is rolling up and down like a yo-yo, and the consumer confidence index has slipped to its lowest level in 18 month. So what does this mean to the travel industry in Orlando?
(PRWEB) October 26, 2007 -- The housing market is slipping, the economy is rolling up and down like a yo-yo, and the consumer confidence index has slipped to its lowest level in 18 month. So what does this mean to the travel industry in Orlando?
The outlook for the first quarter of 2008 looks pretty strong, especially in large markets such as Orlando. Trey Duling of Orlandovacation.com was recently been quoted as saying, "We expect to have another great first quarter in 2008. Yes, a lot of families might be looking to make cuts on their vacations to save some money, but the economy is not as bad as some analysis have been projecting. I don't think the economy will get too bad, at least in the first quarter of 2008, where families will be cutting out their annual vacations. I don't see any indications of that yet."
Even though the major theme parks in Orlando have not come out with their 2008 first quarter forecasting, you should probably expect to see the overall attendance at the theme parks be the same as last year. It is too early to forecast the 2nd and 3rd quarters of 2008; however, the first quarter looks to be quite strong.
"The first quarter should be flat as compared to 2007, but we need to remind ourselves that the first quarter of 2007 was very, very good," said Trey Duling.
One market which should do better than last year is the vacation home rentals in Orlando. These vacations homes have grown so popular that there are almost as many vacation homes in the Orlando area as there are hotel rooms. It is these excesses in inventory which is continuing to drive the nightly rates down, hence providing families with a great bargain. The Kissimmee Convention and Visitors Bureau and Osceola County are both doing major marketing campaigns to promote the Orlando vacation home industry. This extra bit of marketing should make for a pretty strong booking season for the vacation homes.
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