The impact of inflation on the travel market

Inflation is a dirty word. The subject of this paper: The Impact of Inflation on the Travel Market is loaded with substantiated malaise and foreboding. We have dire evidence—world‐wide—of a conspicuous drop in the rate of tourist growth where there is still growth, as in Taiwan, Hawaii, and Brazil. But, worse than that has been the dramatic drop in tourist travel in Europe, Hong Kong, Bangkok and other traditional destination areas. Notably, much of this drop has come from America and Japan, so that today one may read that Germany may be the best source of travelers. Germany suffers least from inflation. Germany holds a most favorable balance of payments. Germany has $27‐billion in gold.