Travel, Economics and Anxiety

By Adrian Caruso - TA Fastrack CEO

As the economic malaise sets in for the long haul, and believe me it will be the long haul, where is the anxiety about travel? To be frank, there really isn’t any. The news these days has been dominated by falling fortunes, but the reality is the value of most portfolios is way up since the market crash of 2009.

In fact, even after the sell-off earlier this week, many who bought when people panicked are still up more than 85 percent from that low. The concerns today seem to stem from emotions and not on a rational approach to the market.

The hype surrounding the latest market drop is just another news cycle that raises everyone’s anxiety.

Why should you worry about a drop of 10 percent in the market, or what’s considered a “correction,” when you are already up significantly? When people take stock of the numbers and put things in perspective, they will get it. The hype surrounding the latest market drop is just another news cycle that raises everyone’s anxiety when most people are far better off today than they were just two years ago.

Like many other people, I was nervous during the market crash of 2009. Fortunately, I shook off those nerves and invested in different companies that I believed in, including my own. I can speak from experience because I put my money to work in the last two years and saw remarkable gains as a result. Did I take some risks? Yes, I probably took more risks than many others are comfortable with taking. That’s why I saw what many would also consider to be outsize gains. I followed Warren Buffet’s advice that “you should be fearful when others are greedy and be greedy when others are fearful.”

Be greedy about life and all the experiences that you can garner since there is no second act.

What should a traveller or an investor do during the interesting times we live in today? How about just learn how to live? Be greedy about life and all the experiences that you can garner since there is no second act - you are either all in or not in at all.

Life is simply too short and the time you spend worrying is time spent not living. As each of us gets older, we realize that we only have so many good years left to travel and get the experiences that only this industry can provide.

That’s why you see the baby boomer generation continuing to be the growth engine of the travel industry and travel agents alike. According to Barron’s magazine, baby boomers currently control 46 percent of all discretionary spending. That percentage is set to climb to 51 percent in the next five years.

Where will these people be spending their discretionary dollars? More than any other area, the experts say the money will be spent on travel. So leave your anxiety at the door and get out there and enjoy life as you help others discover the joy of travel!

To read more articles from Adrian, please visit his blog.

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