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Sunny returns from the travel industry
Shares in the FT's travel and tourism index are up by nearly 45% in a year. And there are plenty of people who think this sector's a good long term bet. Douglas Quinby, Principal Analyst at market research company, PhoCusWright, says the growth is going to be led by emerging markets. Many people here haven't traveled to the same extent as those in Europe and America and, in his words, "they're hungry for it".
Recent earnings reports from individual companies have been fairly mixed but results from the likes of Intercontinental Hotels Group (IHG.LON) and Tui Travel (TT.LON) have been encouraging. Quinby says travel's a great indicator, not only for the economy but for consumer confidence. And even the most doom mongering economist needs to take a break sometime....
01:27 minutes
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