Eye on the Economy
Wednesday, April 16th, 2008Here’s my stab at taking my blog mainstream; the following is a piece I submitted to be part of a larger article in an economy magazine and website. I sent this in as a response to a query asking for job opportunities during a potential recession. Please read on and I appreciate all feedback and critiques:
I am by no means a professional job market analyst but I am a student of the economy and business.
And from what I’ve read and my own observations, it seems that one of the best opportunities students will have to hold down jobs in the impending recession will be in the hospitality industry. The reasons for this are economic as much as they are monetary. Our dollar is in a nosedive which means that Americans receive less when they exchange for foreign currency and foreigners receive more when they exchange for our dollar. The result of this is that Americans will now be, and are, taking vacations within the states this year.
Experts within the travel industry anticipates that the trend will be towards taking shorter and more frequent trips: like a weekend trip to one of the U.S. beaches, a weekend trip to Mt. Rushmore etc. Along those lines, we can expect to see more tourism and vacations from foreigners coming from out of the country. These foreigners will be receiving big bucks for their currency so may be taking extra long vacations and will certainly be spending more money. If you ask me, and I think the experts agree, the hotel, resorts, spa, and other vacation related industries, may well be pretty recession proof this time around. At least they will be fairly well guarded and thus will provide great full and part time job opportunities for college students. Hospitality is more secure than travel itself: we don’t really know how people will prefer to travel by car or by plane due to gas prices increasing. But we can expect they will be traveling and a good assumption would be that many trips will be made within traveler’s own state of residency just so they can cut back on the travel costs. In Colorado, for example, there will likely be an increase in Denverites traveling to the mountains to cool off or somewhere like Pueblo Reservoir to warm up and water ski, etc.
Eye on the Economy:
I’ll be focusing some of my blogs, now and in the future, on a Denver based perspective of the current state of the economy: locally, nationally, and globally, as well as how this might affect the people of Colorado. Stay tuned, and as always, thank you.

