First, the generation known as the baby boomers has a huge effect on the direction of the travel industry. There is an estimated one billion baby boomers and the first group, nearing their sixties, are reaching their retirement status and don’t appear to be settling down on the front porch having tea. Instead, they are planning various types of travel. Secondly, the industry is outgrowing the economy and about 10 percent of that attributes to consumer spending. Economists believe that travel is expected to double in the next 10 years.
Next, employees are getting fed up with their lack of job security, company downsizing and outsourcing, and dwindling benefits. Corporate America is constantly getting a face lift and causing its workers to look for other means of income. So, home-based businesses are a fast growing segment of the economy and home-based travel sellers are the fastest-growing segment of the travel agency arena.
Finally, billions are being spent on the internet and travel is pulling in a huge chunk of those dollars. Today, most people are comfortable with the internet, compared to about four years ago and they choose the convenience of shopping online, and of course travel is rising to the top.
