Tourist industry flourishing despite enconomic doubt
Thomas Cook reports increase in demand
by Abi Moses on 29th March, 2017 and updated 29th March, 2017 4:37pm
Thomas Cook have released a trading update which clearly shows a growth in bookings, with majority of tourists and holidaymakers choosing to retreating in Egypt and Turkey this summer.
This comes as a surprise following Thomas Cook’s statement last month. In which the travel firm admitted to being “cautious” with regards to the year ahead due to political and economic uncertainty.
Booking figures for the summer of 2017 have increased by 10%, which is a hefty comparison to last year due to a line of geopolitical events. Thomas Cook’s books show that citizens are keen to book locations such as, Greece and Turkey. As well as these, certain European destinations are proving to be a hit with more bookings for Bulgaria and Croatia this year. Overall, figures have reportedly risen a huge 40%.
Chief Executive, Peter Fankhauser, has positively commented that, "After a slow start to the season and a tough year in 2016, we're seeing early signs that customers are beginning to go back to Turkey and Egypt."
The company arranges holidays for roughly 20m citizens per year. However, due to increasing competition, such as the airline sector, the company has admittedly found it difficult to stay afloat the last few seasons.
Fankhauser also said, "As we look ahead to the rest of the year, I am confident that the work we're doing to strengthen the quality and appeal of our holiday offering will win more fans for Thomas Cook, demonstrating continued progress in our transformation to put our customers at the heart of the business".
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