It’s not just Americans that are opting for staycations as the economic downturn wears on, Europeans are following the same suit.

While August is normally a high month of travel for Europeans of all walks, this year is a different story.  International tourism arrivals in Europe were down 10% the first part of this year and the summer months have not been an exception. 

Well, when Europeans stop taking August trips, you know the travel industry is really suffering.