Views on Travel Innovation, Part 2

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