In an economic downturn, the very wealthy usually will not change their travel lifestyle. This should not be confused with the luxury market or what is sometimes referred to as the "aspirational" market.

Luxury travelers are likely to take fewer vacations or shorten their vacations but are not likely to downgrade the quality of the leisure experience. There will be some shift from expensive international destinations to less expensive international destinations and/or domestic vacations.

Midmarket travelers are likely to take fewer vacations, shorten the length of vacations and downgrade travel.

The "thrifty" market may stop the kind of travel sold by travel agencies altogether.

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