Travel industry resilience will be tested to the limit by a crisis many in the sector still fail to understand, says a leading tourism analyst.

Rolf Freitag, chief executive of IPK International, told German trade show ITB in Berlin: ?Many still underestimate the present crisis. Travel was resilient to any problem for so many years, but now we have a real, global economic crisis.?

German-based IPK undertakes research among 500,000 consumers to produce an annual World Travel Monitor.

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