Professor Richard Scase kicks things off with a grim reminder about the state of the the world economy, in terms of its reliance on traditional energy supplies and global geo-politics.
There is “fundamental business change” on the horizon, Scase says.
Why?
A re-drawn Middle Eaat. Global disease (AIDS/HIV). Instability in South America. All will continue to impact on the travel and tourism sector.
The green lobby has also hijacked the travel industry to use it as its whipping boy – especially the airlines.
Scase puts it simply: “We shouldn’t have allowed it to happen.”
As far as energy is concerned, travel and tourism – like other sectors and the global population – will find itself in big trouble very soon.
The usual – terrifying – statistics are rolled out.
* Oil runs out in 35 years.
* Petrol will be three times its current price by 2020.
* Gas runs out in 75 years .
But… Scase briefly points to the answer: nuclear power.
But where there are challenges there are huge opportunities for the travel industry, mainly arriving in the guise of emerging economics (China and India in particular).
In fact, 100 million Chinese tourists will be coming to Europe by 2015. An incredible figure…
But what of outbound tourism? A ageing population will fuel enormous growth. As well as a booming market for singletons (Single person households in the UK will increase by 50% to 9.9 million by 2026).
Kevin May, editor, Travolution
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The industry has a lots to do to redesign its product around the single affluent population of the future described in this session. Traditional travel brands largely appeal to the 'average ' demographic of the nuclear family- rengineering brands will be required as this demographic shifts
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