Tuesday, January 13, 2009
Gadgets or Travel: Which Will You Cut During the Recession?
Should I stay (and play)or should I go?
For the past few days, I've had a few conversations about leisure, at home and on the road.
American's love their gadgets, and they also love to travel, but with the economic crunch hitting almost all of our wallets, we'll have to cutback in at least one of those areas. A A survey by Forrester Research indicates that less than 35-35%% surveyed plan to trim vacation plans, but 45-55%% will reduce the amount they spend on "non-essential" retail.
Personally, I can find exciting destinations within a day's drive, rather than a cross-country flight, but many familys dedicate a significant portion of their budget to an annual, week-long trip to an exciting location.
Other families may opt to limit the travel and spend that money on more home-based entertainment. However, I bet that many are so strapped for cash that neither of those forementioned plans are reasonable for their budget.
I'm curious to see how the average American is designated their discretionary income. Will the gloomy predictions of the future economy force many of us to become introverts, or will we ignore the prognisticators, spend our money without fear and see the world?
I don't plan to buy any major techinical device, and my travel plans have already been altered. If my plans represent the average american, it could be a TERRIBLE year for the travel industry as well as the tech industry , including major electronic manufacturers such as Sony (NYSE: SNE). The fallout from their failure could perpetuate the downward cycle we're already sucked into.
Tell us how you have adjusted your budget for the 2009 economy.
By Matt O'Hern at 09:52 AM | Comments (0)