Business leaders regularly ask for one thing and that’s stability. They like to be able to predict what is going to happen next, and from that respect travel is no different from any other industry sector.
The prediction was for anything but stability after election day, but whether you are personally pleased or not with the election result, it will provide stability, which in turn should mean a platform for further investment for travel businesses, including investment in people.
However there are other less stable factors on the horizon, which could have a bigger impact on our industry, and they mainly revolve around Europe. Most immediately there is the brinksmanship that is going on between the Greek government and their EU/IMF funders over further bailouts. It looks like it will go to the wire, and if Greece were to default on its loan agreements it could crash out of the Euro, the consequences of which no one is able to fully predict.
Fast forwarding to 2017, there is the question over the UK’s continued membership of the European Union, given the new government’s commitment to a referendum. This is always going to have an impact on our industry, from an economic, cultural and regulatory perspective.
However my personal view is that following a very positive start to 2015 from a travel recruitment aspect, it should continue to be a good year. In terms of overseas holiday sales it hasn’t been that great so far, but perhaps with the election and its result now out of the way, the “lates” summer market will really take-off. If it does, it will give travel companies the confidence to undertake further recruitment. There is also activity and rumoured activity in the M&A market, with Expedia’s purchase of eBookers/Orbitz awaiting regulatory approval, and alleged stories circulating about possible sell offs within TUI’s specialist businesses. Whenever there are acquisitions and disposals, it naturally follows that there will be movement within the jobs market, particularly a more senior level, which where the Gail Kenny Executive Recruitment operates.