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Trend One:
Travel is an industry that is just realizing its remarkable potential in the marketplace. The industry pulls approximately $1.3 trillion annually in the U.S. alone and almost $7 trillion worldwide, making it the fastest growing industry in the world. It is growing 23% faster than the global economy. With such growth, a boom is on the horizon. In fact, travel is expected to double to $14 trillion worldwide in the next 10 years. Of that economy, tourism accounts for almost 11 percent of all consumer spending worldwide. Travel spending alone averages $1.4 billion PER DAY, that’s $59 million per hour. |
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Trend Two:
Baby boomers - the generation born between 1946 and 1964 - have a huge effect on trends and opportunity and will have a huge effect on the travel industry. There are nearly one billion baby boomers worldwide and the first of them are turning 60. These 60-year-olds are facing retirement, which occurs at a rate of one person per eight seconds for the next 20 years. And what will these newly retired baby boomers do when they retire? Travel, of course. |
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