The global financial crisis may be bad news for businesses struggling to draw in enough custom to weather the economic storm, but it spells good news for travellers who are able to bag some great bargains as companies lower their prices in a desperate measure to lure in consumers.
Hotels in Australia are currently feeling the pinch, lowering their prices by as much as six per cent during the latter part of 2009 and those prices could well drop again this year as the tourist industry flounders in the crisis.
Average hotel prices are now $154, around £87.41 per night. However holidaymakers in Sydney are seeing the biggest savings, of up to twelve per cent, making Sydney a cheaper place to stay than Melbourne!
However Bill Healey, president of the Australian Hotels Association maintains an upbeat attitude that things will change for the better this year: “We’re optimistic that the more positive signs in the economy will lead to better rates this year,”
Whilst Australia has managed to weather the global financial storm, the tourist industry has been hard hit as countries who have borne the brunt of the storm, such as the US and Great Britain, have seen a drop in the number of tourists planning overseas holidays.
Meanwhile airline companies have also been battling it out to attract passengers, slashing prices and increasing their special offers. Right now you can fly from six UK airports to Australia from £599 with Emirates whilst Virgin Atlantic are offering London to Sydney flights from £699 and Qantas have a special offer of flying from London Heathrow to Australia starting at only £613.
So if have a little cash to spare and fancy a cheap break to Australia then now is the time to book that holiday as prices will start to creep up again once the global recovery is underway. Plus you can feel virtuous in the knowledge that your custom is helping to revive a struggling tourist industry.