TUI anticipates catch-up effect after political tension eases
| Service |
Hanover/Berlin, March 8, 2003
TUI AG, the world's leading tourism group, takes an optimistic view of the 2003 summer season despite the threat of war in Iraq and the current hesitancy in bookings. At the start of this year's International Tourism Exchange in Berlin, TUI AG chairman Dr Michael Frenzel said: "This fair will send out positive signals. Irrespective of any short-term difficulties, the tourism industry should continue to look optimistically into the future. The holiday industry is a growth industry over the medium and long-term." Dr Frenzel added that the fundament demand for holidays is unchanged, and holidays are still a top priority for consumers.
Bookings throughout Europe are being influenced by the threat of a renewed Gulf war and the poor economic situation overall. CEO Frenzel said, "the obvious hesitancy in bookings in recent weeks is evidence that the war is already in people's minds."
TUI group's overall customer figures for the current winter and summer season mark a four per cent drop year-on-year. Booked turnover for the winter and summer season is just over six per cent down in total on the preceding year.
Turnover booked for winter is about one per cent, while turnover for summer is presently some nine per cent below last year's figures. The figures show great variations throughout Europe. Whereas the markets in Austria, France and Ireland are now higher than last year's levels for the crucial summer season, the figures for Germany and Great Britain are noticeably down on the previous year.
The demand backlog is due to the increasing trend towards late booking apparent again this year, a factor exacerbated by the fear of war. TUI anticipates a strong catch-up effect when the political tensions eventually ease.
Frenzel: "We will use all leverage available to keep TUI moving ahead on its successful course despite all political and economic obstacles, and have not given up on 2003."
For further information please contact:
Björn Beroleit, phone +49 511 566-1310
Nicola Gehrt, phone +49 511 566-1435