As I described in Part 1, broad innovations in technology have paved the way for many travel innovations. But surely there are important non-technology factors that are shaping the future of the travel industry. Let’s take a look at five such factors and their implications.
An Aging Population. Demographics are like glaciers – they change slowly but are incredibly powerful. This chart shows where we’re headed age-wise. In about 20 years there will be more old folks than young folks out there. Travel marketers know that these segments have very different wants and needs, but I wonder if those marketers are gearing up enough for this important trend. Continue reading