Economy

Spending on foreign travel slows, new Barclaycard figures reveal

Barclaycard finds August agent and airline transactions fall as fuel price rises slow spending

Industry bodies tell Truss to sort energy and tax burdens

Action needed now on energy and tax, industry associations tell Truss

Scottish agents seek new PM's support with cost of living challenges

Business rates relief a key ask for Scottish travel trade with energy and living costs set to skyrocket over the next year

Dear prime minister – come and meet the travel industry

Travel sets out its demands for the new prime minister, but neither Liz Truss or Rishi Sunak curry much favour with TTG readers – here’s what travel wants to see from Westminster

Cost of living crisis inspiring uptick in eco-friendly travel

New study reveals 89% of adults have made changes to their holidays, which both save money and prove more environmentally friendly

Recovery in retail footfall slows, plus Tui sickness legal action

The return to the high street has slowed, new figures show, while Tui faces a group action over illness at a Hurghada hotel

Households to face 'sharp fall' in living standards but no new taxes

National titles cover Resolution Foundation prediction that real earnings will be back to 2003 levels as energy crisis and inflation bites

Membership organisations move to ease cost of living pressures

Abta, Aito and Advantage to allow members to pay in instalments to help alleviate growing cost of living crisis concerns this winter

Majority of Brits to travel this autumn despite cost of living pressures

Tripadvisor’s Autumn Travel Index revealed more than two-thirds of UK holidaymakers will travel this autumn despite ongoing inflation

Travel records fastest fall in output activity of any sector in July

It comes as consumers rein in discretionary spending as the cost of living soars

Fresh strike warning and interest rate hike in January?

Strikes affecting trains, tubes and buses make headlines on Thursday (18 August) while economists warn rising inflation could lead to a 4% hike in interest rates by January

Virgin Voyages secures $550m investment to support growth plans

he funding was led by accounts managed by BlackRock and includes new external financing and additional capital from existing investors

Poll: What should be the new prime minster's first priority for travel?

We want to know what you think Liz Truss or Rishi Sunak should do first to help the travel industry bounce back from the Covid crisis?

Claims portal opens for failed Atol holder

London-based Dream World Travel failed last month, licensed for around 4,500 Atol-protected seats

Global travel prices expected to increase next year

Air fares, ground transportation costs and hotel rates will continue to rise this year and into 2023, according to new data

Majority of operators confident of 2023 revenue boost

Optimism high among travel firms despite concerns about the impact of inflation and cost of living on consumers

Ryanair chief signals the end of cheap flying

Michael O’Leary says the days of ultra-cheap fares are over and says recession will benefit Ryanair

Consumers will still holiday despite recession threat, says new Tui chief

Tui sees consumers trading down due to recession but says holidays will still sell

UK remains Tui's most advanced market in terms of bookings

Booking volumes up 5% on summer 2019 levels at same stage of the year, says European travel giant

Tui highlights Manchester disruption following failure to turn spring profit

Group says €75 million in additional costs, which turned a ‘clearly profitable’ €48 million in underlying earnings into a €27 million loss, ‘mainly related to departures from Manchester airport’

Travel warned not to waste ‘political profile’ gained during Covid

Speaking during a TTG Agenda 2022 panel session, Abta chief executive Mark Tanzer said it was crucial ground handling was designated a critical strategic role

'Biggest income squeeze ever', plus staycation boom is over

Bank of England warns of unprecedented pressure on consumer finances due to rising energy bills

Surge in demand for 'buy now, pay later' options to fund travel

Three-quarters of respondents to a new Amadeus survey said they were more likely to choose a pay-by-instalment option to fund their travel over the next year

'Travel can turn around negative industry perceptions by peaks'

TTG Agenda 2022 panel discusses how travel can get back on track after a bumpy summer in time for next year’s peaks sales window