Shorthaul investors less vulnerable to travel industry trauma

Property owners who have invested close to home could be best-placed to deal with the fallout of the deepening global economic crisis, experts have said.

Zoom Airways and XL Airlines have both collapsed in recent weeks, while Alitalia is currently teetering on the brink of bankruptcy.

This is likely to be bad news for overseas property owners who rely on these carriers to access their foreign residence.

However, NuBricks.com believes that if investors have bought a home in a country which is accessible by other means, they may prove to be better off in the long run.

The website commented: "The ultimate winners in overseas property may well be the old standards of Spain, France [and] Portugal."

NuBricks.com added that the global holiday destination list is "shrinking" as the industry is looking into various ways of cutting costs.

This comes after the Passenger Shipping Association revealed that rising cost of fuel is leading to an upturn in the number of people travelling abroad by ferry.