Chief executive of Stella Travel Services, Keith Stanley, has stated that the global economy is witnessing another credit crunch, but expects it will have little impact on Australia’s travel industry.

Mr Staley flew from Australia to Palma to attend the Triton conference following the company’s recent purchase of Global Travel Group. According to Keith Stanley the global travel industry last saw a credit crisis was 7 years ago in 2001. Since then though, global travel has risen by 30% and expenditure on the industry has risen by 40%. This investment has secured the knowledge that the current global credit crunch will have small impact on the industry.

The travel industry is booming and Mr Stanley stated that “There is plenty of business out there if we are good at what we do.” So he expects only a slight impact on the travel industry over the next 12 months.

Stella Travel Services is the largest travel company operating in Australia and New Zealand and they are optimistic about Australia’s travel industry.

www.stellagroup.com.au