The travel industry is braced for thousands of insolvencies as the sector comes under increasing pressure from terrorism fears and rising costs.
According to data from insolvency firm Begbies Traynor, 2,679 businesses in the travel industry are currently experiencing significant distress, a 10 per cent increase compared to the previous quarter and a four per cent year-on-year increase.
Terrorism is a growing concern, and its having an impact on the sector, said Julie Palmer, a partner at Begbies Traynor. Palmer added consumers are shifting away from traditional holiday areas like Turkey and…
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