The development of travel and tourism industry Dissertation

The development of travel and tourism industry - Dissertation Example This paper outlines also the current developments of tourism. Low cost airlines â€Å"Evidence in the Europe and the U.S. indicates that the leading LFAs [low-fare airlines] fared significantly better than their full-fare rivals in the wake of the terrorist attacks on the U.S.,† wrote Thomas Lawton, author of Cleared for Take-Off: Structure and Strategy in the Low-Fare Airline Business, in the November 2003 Irish Journal of Management. â€Å"While established rivals cut staff, grounded aircraft and even collapsed into bankruptcy, the LFAs continue to open new routes and order new aircraft. LFAs are more resilient than traditional airlines to market downturns.† Europe deregulated its skies in 1997 and there has been no looking back as far as the travel and tourism boom is concerned. The low cost airline like Ryan Air, Excel Jet and Budget Air have offered the passengers no frill airlines and this has fuelled a lot of travel. This has exceedingly lowered the prices making holiday travels very affordable. For this reason these airlines have steadily gained market share. An old adage about cruises painted the typical passenger as "newlywed, overfed or nearly dead," but demographics for cruises are changing. A million children took cruises in 2002, double the number from 1998, according to the Cruise Lines International Association (CLIA), which represents 21 cruise lines. A five-day, $500 (or less) trip to a warm place (meals included), available in many markets; prices being affordable even for middle-class families.