Hello Chris 😊
I generally do as much travel as I can afford and have time for. If I can afford less because of things like credit crunches or whatever I try to find a way to make being in London(or wherever) less expensive.
I would generally choose getting around London independently and even more so if tours seem expensive. So yes, economic conditions in the world do effect how much of and how many tourist services I buy.
You can probably see from my response that I can only guess what credit crunch means. Would you explain it?
You have the right grasp on what we in the UK refer to as the Credit Crunch... in the UK its all we are hearing about at the moment.. its quite depressing! ;o)
Basically, it just means that all essentials (oil, electric, gas, food etc) are going up in price and people are having to start cutting back in other areas. The UK has been hit but not as bad as other areas of Europe such as Spain that has been hit far worse. Also flight prices have risen dramatically against a year ago which has had an impact on the travel industry.
All good fun! Thanks for the feedback.
That is exactly like here. Prices for these things are going up here in Germany too.
We are being told we are lucky with food prices because we still pay less than in many other European countries. But I think they are being rather narrow in their assessment about our luck because the prices for household energy are probably the highest in Europe.
Is the credit crunch the same as inflation or is it more than inflation price increases?
I don't think that the credit crunch stops people from travelling but of course it stops you from spending money you now need for paying the bills and your weekly food shopping. If I only have a certain budget for travelling, then I would stick to it and consider camping/self catering apartments instead of splashing out on a hotel and having dinner every night. We are going to Italy soon and have decided not to rent a car this year and will be using public transport to get around, which is not easy in rural Italy but ok!
However, I have heard some industries are actually gaining from the crunch as many British people now stay in the Uk for their holiday and are buying tents 😊. A sightseeing tour is not an essential and would be something people will cut back on holidaying in the city. Personally I have never done one of these tours though.
I notice the prices have gone down in one area. Clothes are much cheaper than they used to be. I mean ordinary clothes, not designer labels. Labels are probably as expensive as ever.