by Calculated Risk on 6/03/2010 08:34:00 PM
Thursday, June 03, 2010
Oil and Florida Tourism
Earlier I posted: Oil Gusher impacting Gulf Coast Hotels
William Spain at MarketWatch has more: Spill could mean dark times for Sunshine State
At stake [in Florida] alone are hundreds of thousands of jobs and perhaps billions of dollars in revenue, depending on when and where the oil from BP PLC's runaway well makes landfall.Of course the loss of tourism pales in comparison to the ecological damage from the oil gusher.
Although the beaches were still in the clear as of Thursday afternoon, widespread reports of vacation cancellations are already coming in ...
"It is already ugly," said John Fareed, a partner at Fareed Zapala Koepke, an Orlando-based hospitality-industry consultancy. "When it hits, it will be real and will position itself in the psyche of consumers who are getting ready to make vacation plans. It is going to have a huge impact in terms of future bookings and cancellations.
"Every indication from the people we work with is that bookings have slowed to a trickle".