As with many other businesses, the travel industry is largely affected by the economic crisis. Last year in September major airlines carried 9.2 % fewer passengers, both domestically and internationally while the rates went up by 15-25 %. Hotel occupancy was also lower by 5% and even deluxe suites in Paris five-star hotels are empty today reporting a decline in business.

Consumer's wallets are thinner; therefore they are cutting down on luxuries. Fortunately, vacations are not considered luxuries by most people, instead they are viewed as a necessity, especially by working people. After reading several travel forums, I could definitely feel a positive spirit among frequent vacationers. Even though their pockets might have suffered, it will not change their travel plans. On the contrary, it seems like a more difficult economic situation motivates them to be more creative in finding alternative ways of traveling. Maybe it will not be a luxury resort in Hawaii, but a cozy vacation home in Florida. Maybe it will be a beautiful state park instead of Tuscan countryside. But who said it is worse?

With such terms as recession, credit crunch and redundancy heard every day, it is hard to stay optimistic. Although challenging times lay ahead for travel industry, there is a strong light at the end of the tunnel for owners and managers of vacation rentals. With significantly lower rates than luxury resorts and hotels, vacation rentals have an enormous advantage and offer a silver lining for travelers today.

If an affordable vacation is something that most consumers are looking for these days, what better way for saving than staying at a privately-owned vacation home that sleeps large parties and has a fully equipped kitchen where guests can prepare their own meals? Vacation rentals are a truly reasonable solution for family vacation and hope for travelers today.

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