"Staycations" replacing vacations

(01:55) Report

Mar. 3 - The travel and leisure business is anything but fun these days.

The travel sector is under heavy pressure. Staycations are growing in popularity with consumers eager to cut back, and business travel is increasingly seen as an unnecessary extravagance. Bobbi Rebell reports. SOUNDBITES:
# Philip Klaweno, Partner, Bain Corporate Renewal
# Tim Behle, Senior Manager, Ernst & Young



Link to the article: Reuters