|La Cumbre Presentation -- 1998
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As mentioned earlier, relative to package use, we've seen certain markets turn from all- inclusive packages to packages that include air and rental car only. This is the second most popular form of package, following air and lodging for South and Central America, and the Caribbean but not Mexico --- the Mexican air traveler prefers guided tours!
But more important is the independent traveler, be it business, VFR or leisure, who is renting a car. As one indication of the importance of this traveler, the overseas car renter spends 15 percent MORE than the average overseas traveler to the U.S. I don't have this analysis for our Latin American countries but I expect that trend prevails across these markets as well.
With the exception of the Caribbean, here again you see that upsurge that was recovery in 1996 from Mexico's economic ripples. Again, I do not see 1997 as a downturn but rather a correction to more "normal" levels.
The Caribbean, on the other hand, is on a great growth track here, up 12 percentage points in three years so that one in three visitors now use a rental car during their U.S. visit.
With Mexico, we saw a big drop in the use of the company or private car in 1996, down 16 percentage points. This may have contributed to the gain in rental car use.
|Chart 19 -- Rental Car Use in the U.S. by Latin American Travelers|
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