Big spender tourists? PAU
February 12, 2009 | 11:13 AM

It's called deleveraging and it is going on in all aspects of the economy, not just tourism. The problem is the credit spending of the past has disappeared, replaced by fiscal conservatism that is no where near ending any time soon. This will pass but it will be a while and if you have not pared your spending back enough you will suffer as your income becomes less than what it used to be. Renegotiation of your cable bill to a lower rate will not be enough, you either have to increase your income to cover the difference or drastically cut back on what you buy, both at home and abroad. Even the rich are suffering now, get used to it.

Bill