04/11/2003 00:00
TW
0

THE travel industry is definitely a good one to be in right now in the United Kingdom.
The industry is recovering well from the effects of 11-S, SARS and the Iraq War and the latest market study carried out by Price, Waterhouse and Cooper, states that the UK travel industry can expect to see annual growth of around four percent over the next few years.

However, the industry is advised to make sure it has a “crisis chest,” a more flexible price structure and “product portfolio.” The crisis chest will help companies get through periods of slow trade, such as war or terrorist attack, the flexible price structure will allow the industry to best meet the needs of a changing market and the product portfolio, will mean that specialist travel companies can respond to an international incident by diverting their clients to other destinations.

The industry has all been advised to consider more commission based wage structures, similar to the United States.
With the high and lows in holiday sales, a commission based wage structure can save companies money during a slack period but also enable employees the chance to make good money, well above what a flat wage would have been, during the busy sales periods.