e financial markets in the United States. Growth in the financial markets especially generated huge increases in discretionary income levels for millions of Americans. Much of this discretionary income was used for leisure travel and tourism, with the result that growth increases in the travel industry. Again, however, there was a fly in the ointment for the travel industryùactually, a couple of flies. First, commercial airlines, in an effort to bloat their own profits, began to unilaterally reduce commission schedules for travel agencies. This issue is dealt with in greater detail in a following section of this examination. Second, rapid growth in the use of the Internet began. As more people began to use the Internet regularly, people increasingly began to bypass travel agencies to schedule and book travel and accommodations directly (Cordle, 2000). Most larger and many smaller travel agencies have responded to the Internet threat by developing their own online services.
The rapidly changing travel industry
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