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Tourism could take a hit from Wall Street meltdown
07:39 PM CDT on Friday, October 3, 2008
New Orleans tourism officials said they expect this weekend to mark the start of tourist season in the city, however, they’re already expressing concern that the nation’s economic crisis could put a dent in the city’s largest industry.
Three events in the metro-area should draw more visitors to the city, including Gretna Fest, the Seafood Festival and Art for Arts’ Sake.
"Here we are where we've really gotten our legs back under us after the storms; we got through Gustav with really good marks, we're headed into a growing convention business,” continued New Orleans Convention and Visitors Bureau C.E.O. Steve Perry, “and then the economy drops out from under us a bit."
According to Perry, much of the post-Katrina convention business is comprised of corporate meetings.
"What a lot of companies are already doing, we have noticed, is making the decision to have fewer meetings and to have them closer to their corporate headquarters. Now, that's not good for us, because our corporate inventory is relatively low," Perry said.
2009 is still on pace with bookings for those meetings and conventions, however, Parry said all major economic forecasters are predicting a big downturn in leisure travel. Leisure travelers are the targets of attractions like the Audubon Insectarium, where executives said they’ve had a surprising summer when it comes to attendance.
"The facilities of the Audubon Nature Institute, we've exceeded our expectations this summer. We have strong attendance at the zoo, the aquarium and the IMAX," said Karyn Noles, Senior Vice President and Managing Director of the Audubon Aquarium of the Americas.
Since the Insectarium opened this year, Noles said more than 100,000 people, tourists and locals, have come to check it out.
"We have the confluence of some really not good factors right at the time when we're heading back in the right direction," said Perry.
The C.E.O. said he’s hoping aggressive marketing and deep discounts for those booking meetings and conventions will help keep New Orleans’ tourism economy afloat.
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