The European Tour Operators Association (ETOA) is predicting a major slump in leisure tourism bookings, based on a survey of its members.
ETOA canvassed 38 tour operators who, between them, move more than two million people annually to London. As a result, ETOA expects a significant downturn throughout 2012 which could be extremely severe in July and August, where operators are currently seeing a 60% shortfall in bookings over the period of the Olympic Games where bookings are running at 95% below normal.
Bookings for the rest of the year are 20% below this time last year.
“One of the main reasons for the drop is hotels believe they will be full. London appears to have priced itself out of the market in July and August” said John Boulding President of Insight Vacations, a leading luxury tour operator.
