Travel agents think that there are different types of holidaymakers. For each type, they try to offer the 'right' kind of holidays, at the 'right' country and at the 'right' price. All this has to be planned very carefully. So, while most people are still busy 2 buying Christmas presents, the travel agents have already decided where the holidaymakers will go next summer, what kind of things they will do there and how much money they will spend 3 their holidays. Sometimes the agents are right, and holidaymakers will do exactly what the travel agents have planned for them. But sometimes they are wrong. All this makes their business risky, because if they make mistakes, they can lose a lot 4 money.