T A B L E_T A L K The perfect retreat: Have you found it? Discuss the vacation of your dreams in the Wanderlust area of Table Talk R E C E N T L Y Club Fed By Jeffrey Itell How Madeleine Albright spent more than $40,000 on a Caribbean weekend (04/10/98) Mondo Weirdo Readers' worst travel tales (04/09/98) Tiger, tiger, burning bright By Jeff Greenwald A blood-curdling encounter in Nepal (04/08/98) My grandfather's village By Amy Brill Searching a Greek island for roots (04/07/98) The Chinese friend By Chris Taylor Fate brings together an outsider and a foreigner on a bus tour of China (04/06/98) Your virtual travel agency - - - - - - - - - - - - - - - - - Browse the Editor's letters archives - - - - - - - - - - - - - - - - -		_____silver linings in the asian cloud THE MESSENGERS -- AND THE DEALMAKERS -- WERE _____IRREPRESSIBLY UPBEAT AT THE ANNUAL PACIFIC __________ASIA TRAVEL ASSOCIATION CONFERENCE. _________- - - - - - - - - - - - - - - - - - - BY DON GEORGE | What with all the bad news that has dominated the Asia-Pacific region for the past year -- plummeting currencies, tottering economies, forest conflagrations -- you would have thought that the 1,000-plus travel industry executives gathered in Manila two weeks ago for the Pacific Asia Travel Association conference would have been, well, a tad depressed. But no, the atmosphere was irrepressibly upbeat at the annual gathering, where executives from government tourism organizations, airlines, hotel chains, tour packagers and travel agencies listen to experts, debate issues and, most importantly, schmooze with each other. The conference's direction was signaled by its theme -- "Inspiring Progress: Influencing Prosperity" -- and articulated by speaker after speaker, beginning with outgoing PATA Chairman Jon Hutchison, who said in his opening address: "When I look at what is happening in the region and reflect on my 30-odd years in the travel industry, I start getting a bit of a buzz. It must be the businessman in me and the fact that in spite of what economics I was taught at university, I have learned that the first law of economics is this: 'After every boom there is a bust, and after every bust there is a boom!'" (If only he'd been around in 1929!) "You see," Hutchison continued, "I know that there are going to be winners out of this crisis. Those countries which have had their currency devalued are potentially the biggest winners. We live in a value-conscious world. Tourists or the potential tourist just need to know that the product hasn't changed at all. It has only become more affordable." A cynical outsider might dismiss this as wishful thinking or willful sophistry, but after a few days of hearing this message reiterated in different ways and contexts, I realized that it made perfect sense: These delegates didn't need to hear about currency devaluations, economic scandals and near-collapses and uncontrollably raging, sky-choking fires. They knew all about those. What they wanted to hear about was the pathway out, the next step -- the silver lining in the Asian cloud. That lining was best limned by Adi Ignatius, the deputy editor of the Asian edition of Time magazine, who in a speech surveying the state of the region highlighted his own seven reasons for optimism: 1. There really are travel bargains to be found throughout Asia right now, and savvy travelers -- from within Asia and from outside the region -- will begin to take advantage of them. 2. Nine months into the economic meltdown, things are looking better just about everywhere -- with the exception of Indonesia. 3 The new Chinese Prime Minister, Zhu Rongji, is good news; he understands the economy and is willing to take risks, and he is both tough and transparent -- a combination previous Chinese leaders have lacked. 4. The economic shake-out and resulting bankruptcies and unemployment were necessary and inevitable. A new "Asian miracle" will follow in their wake, within the next two years. 5. Democracy is growing throughout Asia -- reform and democratic leaders are enjoying unprecedented popular support around the region; the economic crisis has been a catalyst to push reforms. 6. The Philippines is "the IMF poster boy" -- a heartening symbol that proves that once-troubled Asian economies can recover. 7. New ideas and a new vocabulary are taking center stage throughout Asia; in particular, "transparency" -- openness rather than secrecy in pronouncement and action -- is finally being seen as a critically important commodity in leaders and in institutions. Ignatius' remarks were delivered as part of a panel discussion on "Finding Success During Difficult Times." Other panels charged ahead under equally optimistic banners -- "Turning Problems into Opportunities," "Positioning for Prosperity," "Partnering for Profit" and "Sustainable Tourism Solutions." The consensus that emerged from these and from countless escalator encounters and cocktail conversations was clear: "We've reached the bottom, or just about. Things are going to get better and better from now on." And the prevailing strategic assessment seemed to be captured in what one Hong Kong tourism official said to me: "We see this as a brief respite, a time for us to catch our breath, to reevaluate where we've been and where we want to go, reassess our operations and goals -- before the next boom hits us." N E X T+P A G E | Mom-and-pops and multinationals