After a close look at Moody's index (although some critics rightly argue that fiscal deficit has little to do with misery itself unless you link it to other measures) I considered working the index by conversion rate (number of visits by actual bookings). In one word the 'window shopping effect'. There has been some discussing about high streets being as busy as ever only for consumers to end their shopping spree in front of the shop's window and go back home empty handed.
Now if we look at the window shopping (and add the smaller countries Moody's arguably included into their index), our outcome is strikingly similar to Moody's. From worst performing up:
1. Latvia & Iceland & Jamaica (0% conversion, although the actual visitors numbers -except for Iceland- grew respectively by 40% and 66%!)
2. Romania (0.32% conversion against a 300% growth in visitors numbers!)
3. Estonia (0.59% per 100% growth in visits)
4. Greece (0.97% per 75% growth in visits)
5. Spain (1.13%)
6. Ireland (1.20%)
7. Poland (1.35%)
8. U.K. (1.47%)
9. USA (1.49%)
We also looked at it through yet another perspective: 'Price Sorting'. When you do a search on our websites you can sort the reults by price. This feature has been used 35% more this year than the previous, but, most importantly, it has seen a growth in bounce rate (the percentage of single page visits resulting from this set of pages or page) of 77%, despite the fact that we have 35% more apartments on offer than last year and prices have, if anything, gone a little bit down. This is a good window to show the crisis effect. Looking at it from this perspective (I only looked at the big numbers this time) the UK is faring particularly badly (67% bounce rate compared to 23% last year), followed by the US (63% bounce rate against 40% last year).