By now it is apparent the U.S. economy is heading towards a recession, though some argue that it has already happened. This has impacted businesses across varying industries. From a consumer’s perspective, there are more concerns with how money is spent and for some, the recession means cutting down on expenses to save more money.

For the travel industry, the weakening dollar and a regressive economy means more value conscious consumers. “Two recent nationwide surveys agree: Americans are taking a hard look at vacation costs. More than two-thirds of respondents to the most recent survey by Ypartnership, co-authored with the Travel Industry Association, said they had downsized their trips in some way during the past six months because of personal financial concerns. And a survey just completed by AIG Travel Guard found that 47% of travelers polled plan to downscale their vacations to save money” (Boston Edge). But this doesn’t mean eliminating vacations all together. “AIG Travel Guard’s new Travel Beat survey says more than two thirds of the 300 polled said they wouldn’t reduce the number of leisure trips they take in 2008” (Boston Edge).

What this means is that providers of vacation packages and discount traveling are benefiting. “"Our tour business is going through the roof," said Brad Anderson, co-president of America’s Vacations Center in California, which specializes in escorted tours and cruises. Bookings of Contiki tours, for travelers ages 18-35, is "exploding," he added” (Boston Edge). For discount travel companies like World Ventures the recession could prove to be a major business driver.