ING Bank’s economic bureau says the Dutch travel sector must innovate and make major investments if it is to survive falling numbers of holiday makers.
In a report published on Monday, ING’s economists predict that the Dutch will spend much less on vacations in the coming years. Weak economic growth, rising unemployment and hefty government budget cuts will make consumers less adventurous in their choice of holiday destinations. Dutch consumers are expected to spend many more of their holidays in the Netherlands.
ING predicts that the number of travel agencies will be halved by 2020, mainly because consumers book more and more holidays on-line and via social media.
According to the report, travel companies will only live up to consumers’ expectations if they introduce innovations in the fields of education and IT, extend the range of services offered at holiday destinations and provide support in the case of unexpected events.
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