Friday, March 27, 2009

Even Paradise Is Going Bankrupt



Vacation spots are struggling.
This article is for March 30th

20 comments:

caroline said...

It's unfortunate that the Seychelles is now known for bankruptcy. Since tourism is declining, it shows that everyone is stuggling, even the wealthy. The normal luxury hotel occupancy here averages 70 to 75%, but General Manager Markus Iseli expects 30 to 35% occupancy this year. Although he says that is not bad for a recession, it sounds bad. The occupancy is being cut in half!

JChrobak said...

Its unfortunate that these big time tourist attractions are struggling and going bankrupt. Since the economy is struggling, no one really has any extra money and/or time to get off from their job to enjoy themselves. Even luxery hotels occupancy, which during summer season in an expansion have no vaccency, is cut in half

Dylan said...

Really goes to show how this is a world recession. The country if defaulting on loans and is highly effected by other countries, such as the United States and Britain's economies. Not only relying on their banks and business but also on the tourist industry. Though the government is doing a lot to try and fix this so hopefully things will turn around for them.

Tamika T said...

With the economic crisis happening, it is true that many would not have the money as they did in the past to travel and i would not be surprised if i see more places this summer end up like Seychelles. Although there is hope for this island. The article listed a lot of actions they are willing to take and improve their vacation spot. Hopefully their plans all go well before the summer begins or they will really see trouble!

laurenwood said...

All I have to say is I hope that Seychelles can fix their problems before the summer. It's sad that our country is falling apart..

Farzana said...

Its sad that these places are going bankrupt. This recession really is effecting the entire world. With the government working hard and trying to fix this, hopefully things will get better soon!

tramz09 said...

this is crazy that the whole world is losing money and are in a recession. How can a tourist attraction can be losing money. Even though its losing money cause of every body is losing money and cant afford to go on vacation.

Chase Williams the 2000th said...

Well I believe even one of the most famous and wealthy companies. Or even a vacation resort can go bankrupt. Even this one, you can go bankrupt in any situation especially since we are in a recession. This might be hard for some people to believe but you have to watch your money closely. Even if you are a multimillionaire. Things like this are happening to everyone.

still said...

It's a shame that these cool vacation spots are struggling financially. People just don't have the money anymore to go out on vacation and trips right now. Of course hotels will be struggling to, when you have no one going on vacation there is going to be no one staying in hotels. The economy is like a big game of dominoes right now everything is so unstable.

l.danner@smama said...

i think that it just makes sense that the tourist attractions are losing money. Vacation is the last thing on peoples mind. The people that have the money to go to these luxurious places are busy trying to maintain their quality of life.

CJohnson said...

Paradise should go bankrupt because people cant afford going to a good vacation. This recession is hurting everyone in the world not just the USA.

Jalepera2121 said...

I think it sucks that you cant even go on vacation to get a break from everything. its very unfortunate that seychelles is going bankrupt. i hope we can turn this recession around before, it gets a lot worse.

Chelsea :D said...

It is unfortunate that a little place that practically runs off of tourism is now borrowing as much money as its worth, and going completely bankrupt. Yet, they seem to have an optimistic attitude about it all, despite that fact that they are expecting only a 30-35% occupancy this year. cutting the occupancy down by nearly 40-45%! I'm just hoping that this all will begin to look up soon, so these small places can starting brining in business again.

marias said...

The global economic crisis is taking has taken its toll on even the tiniest places. Seychelles had to declare bankruptcy because nobody else has any money to fuel their little economy. Their entire economy was based on tourism and fishing, and when people couldn't afford to be tourists anymore, they were left to fend for themselves, ultimately resulting in bankruptcy.

jburg#41 said...

The money issue is getting a little out of hand because to have some of the greatest places to go in the world, they are goin bankrupt because people has to save their money because of the recession and jobs lost, so they cant just go spend it on vacations to nice places

P Seick For Real Yo said...

No one should be surprised tourism is declining. When the pocketbook squeezes, luxuries are cut out... Last time I checked, touring is a luxury so that's at the top of the list.
I have little sympathy for the tourism industry. Once the market picks back up, everything will be fine and dandy. We can't always sip martinis by moonlight...
Anyways, this article should make the people going to Florida feel special in a way... Just a thought.

TonayaB. said...

I Wouldn't Have Expected Anything Different, Its Odd To Hear About Islands Going Down & Tourism Declining Because Who Wouldn't Want To Travel The World But I Guess If You Don't Have Any Money To Do It You Want Be Traveling Anywhere.

ellie said...

I am not going to be surprised it more places end up like Seychelles. With the economy so bad, no one has money to be throwing around for vacations.. that means all of these vacation spots, like Seychelles, will be affected. Hopefully this economy will get better and everything will get back to normal!

Hannah Sue said...

I think it is sad to see vacation spots even struggling. they are supposed to be to have fun and relax! but no one seems to have the time or money for that these days. Even Seychelles is now known for bankruptcy. Occupancy rates cut in half? i hope this changes.

Barbara said...

Why would anyone want to go anywhere period? people are losing jobs, people are getting less money, people don't have much time to think where they want to go to a vacation, when they are to busy thinking about if they might lose their home. To me it is oblivious that tourism is declining. As long as we are in a recession all the luxuries we had, will keep decreasing.