LaurenKahn1

Since I haven't seen a thread on this, I thought I would start one.

Is the stock market crisis affecting your travel plans? My hunch is that travel will take a huge hit from all of this no matter how it turns out (my personal opinion is that the bailout would only stave off what is bound to be a mega recession or depression). Even for the few who have not lost anything, no one makes travel plans when he is worried. People are worried. This crisis is, by the way, world wide not just here.

This is not designed to be about politics, please.

Intex

Everywhere I went this summer, France, Croatia, Czech, has seen a big downturn in foreign visitors, mainly those from the U.S. and U.K. Almost everyone I asked said that this has affected their town as well as them personally. I unfortunately feel that the situation is going to get worse, even though the $ is getting a bit stronger.

halfapair

Well, we are still going to Las Vegas between Christmas & New Years. We area still planning our trip to France for May 2009.

I am hoping that we can get a sweet deal on a really nice hotel room in Vegas. Right now we have a reservation at the Paris, which is just fine. But maybe Bellagio or Venetian will lower their rates a tad and we can stay there....

We have not purchased any tickets yet for the France trip. We are planning & hopeful, but are holding off to see what happens (plus its still a bit early yet, to be buying tickets, etc).

travisblue

I'm still traveling this winter. I am going to the Christmas markets in Germany and seeing some of Eastern Europe (Dec. 5-23). I'm worried...but I will not change my plans.

suze

You'll want to check in with the branch here called Fodorite Lounge. It's where threads on topics like this are discussed (rather than in the Europe travel forum).

Believe me there's oodles of them right now on this very topic.

kindly, suze

Viajero2

suze-- how rude! This topic is definitely appropiate in the context of European travel, specially when some countries are/will be more impacted than others.

My take is that the European industrial powers (Germany, France) will absorb it better than others.

MelJ

Our tickets for our late October Italy/Paris trip were bought, hotels booked, apartments secured earlier this year, so it would be too costly to cancel at this point. I wouldn't anyway, except perhaps, the Italy portion, which is the mostly costly part.

Then I think "I'm losing money in my 401K daily, why not spend it and enjoy it!"

I'm half kidding about that, but a part of me means it.

LaurenKahn1

For the record, I took a bath in the market like everyone else. My money is exclusively in mutual funds. I had been looking forward to a nice retirement and selling my house. With both of those on hold for the moment--and having just come back from a 2 month long trip to Australia and New Zealand--my future travel plans to Europe (or anywhere else) are on hold for the moment until this sorts itself out.

I don't think anything substantial can be passed until after the election as Congressmen are worried about the wrath of the voters in a few weeks. Whatever occurs, we are in for a rough few years--as is tourism everywhere.

GiuliaPiraino

Yes and no. We bought tickets for our trip to Paris and Barcelona last December when the financial climate was significantly different. I also booked our apartments back in December as well, seemed fine at the time, but now with both apartments at 1300 euros a week, I'm kind of gasping. It hasn't made us cancel our travel plans but I am constantly aware of the value of the dollar vs the euro and worrying that our situation here could easily cause it to spike while we are abroad. Fortunately we paid for half of the apartments last year, so that helps.

We would never cancel our travel plans, but we will try to be more frugal and smart about our existing itinerary. So, we decided to:

Eat at the pricier restaurants for lunch when you can often get the same food for significantly less money and shoot for fixed menu deals when available...Then for dinner snack at home or eat at a cafe or something less costly...

Eat more meals in, which is one fo the reasons why we go the apartment in the first place...

Skip "ticketed entertainment", theater, concerts, opera, etc and opt for places that offer free live music...

Unfortunately, bring back less gifts and souveniers for others, and limiting what I buy for myself...

So just a few little things to help with funds while we're abroad.

MelJ

Guila, great strategy and that's our plan, as well.

freberta

This subject came up today. We're scheduled to leave for Paris in 2 weeks, and my husband is scared to death about the financial situation here and abroad. We don't have that much invested in the trip other than airline tickets that we purchased months ago at a very good price (and used frequent flyer points for one of the tickets) and a few other things that may not be refundable. So, in all, we'd probably "lose" about $1,000. But what am I going to do if we don't go -- stay at home and watch CNBC all day? I'm no financial whiz, but things have to turn around eventually, with our without government help. Maybe I'm an optimist or maybe I really want to go on my trip. By the way, we also have plans to go to the Caribbean with the whole family over winter break. My husband is also talking about cancelling those plans.

WillTravel

I am feeling that things are unstable in my industry. I also have three trips planned. But the plane fare is already taken care of one way or another, and I will just focus on saving money on the trips and elsewhere. The total amount of the trips' costs will not make a life or death difference to my financial situation.

Good luck to everyone! Certainly things look scary right now.

rosetravels

When I look at what has happened to my retirement savings I regret I didn't travel more.

bettyk

We lost a whole lot of money this year in the stock market and we are retired.

That said, we have FF tickets to Manchester next year for a 3 week trip and we still plan to go.

Six months is a long time and I'm hoping that the market will recover some by then. If not, then we'll just have to economize somewhere else.

djkbooks

I have followed the advice of Harry Browne, since his first book, "How You Can Profit from the Coming Devaluation" (subtitled "A clear and extensive explanation of how the government money system perverts the free market.&quot was published in 1970, with regard to investing for financial security. The economic principals in all of his books are as valid today as when first published and are not only an education in economics but sound investment advice. It sure has worked for me. I've been re-reading the chapters in my collection of his books on what do do in times like these and proceeding accordingly.

As for travel, our upcoming trip to Ireland was booked (at a terrific price) and paid for months ago. And, we'll probably take our end-of-winter/pre-spring trip. After that, we'll see.

We're very, very glad we went everywhere we went when we went!

luveurop

Nope, not at all. I have no investments, and I rent so I haven't lost a dime.

Plus, I just received a 10% salary increase.

Things are looking good for a nice two week trip to Paris in June '09.

PatrickLondon

There are different issues here - whether one's got the disposable cash in the first place, how exchange rates will be affected, and what will happen to prices in different economies. They're all related, of course, and the natural instinct is to hunker down in the face of alarm. But it doesn't strike me as impossible that some people may find bargains at different times and in different places, if they're ready to act quickly.

karameli

The falling world economy has actually made our trip to Iceland next week more affordable. When we booked it, the exchange rate on the kronur was around .013. Currently it's down to .009. Doesn't sound like much, but consider that our hotel rate had dropped by nearly $50/night. The exchange rate will make food more affordable too -- ultimately our "splurge" trip has become more of a regular old budget trip by sheer coincidence.

Also planned a trip to Disney this December. I feel like it's important to resist the urge to panic, and to feed the economy if you can -- I know there are so many other factors at play, but I'm a big believer in the impact of consumer confidence.

Carta_Pisana

I still have 1 week of vacation left for the year - was in Italy for 2 weeks in June and just in Greece for 2 weeks - so it's not been a bad year for travel. However all this financial doomsday talk really is unsettling mainly because the current administration, the FED, the SEC, Paulson just have no idea what's going on.

I remember the tech bubble bursting in 2001 (?) but don't recall it being so gut wrenching like this. My portfolio was down 15-20% but ultimately recovered all those losses and more.

As for travel - I was thinking maybe Santa Fe - but domestic travel is such a nightmare. Most of the flights from NYC to Santa Fe take 6 hours- an extra hour and I could be in Europe. I'm on the fence right now...I've got points and cash so I can afford a trip but....

afterall

Yet again - à propos my earler post on the Lounge, a significant number of Fodorites are share junkies.

I'm not suprised.

Lauren, when you say "political", what do you mean exactly?

Should we talk about the underlying principles that make people vote (or think) one way or the other?. Or maybe you mean positional politics? Or some other kind you may wish to define.

Do come back and tell.