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Vacation.com predicts babyboomer travel boom
Friday, January 12, 2007
The leisure travel industry is about to boom thanks to the Baby Boomers coming of age and having more free time and the desire to travel, according to Lauraday Kelley, CTC, MCC, vice president Education & Training for Vacation.com.

“With more free time on their hands and the desire to participate in such activities that may have been previously unattainable, the travel industry will see a remarkable growth in the leisure segment over the next 18 years as more and more Boomers have the freedom and time to spend money more freely,” Kelley said.

Kelley made her remarks at this year’s Society for Accessible Travel and Hospitality (SATH) 11th World Congress held at the Miami Airport Hilton.

The impact of Baby Boomers on society was seen in the early 1990’s when the economy boomed due to the tremendous earning and spending capabilities of the generation, and this trend will continue to be a driving force affecting our future economy.

“In 2006 the baby boomers were the economy,” stated Kelley. “We represented the vast majority of the work force. There are 76 million of us, and we are the economy,” she added.

With many previously conserving their money for retirement or children’s college funds, the years ahead will give them the time to use their money to enjoy things in life they were previously unable to do.

The generation of Baby Boomers has been defined by sociologists as those born between the years of 1946 and 1964 putting this generation between 42 and 60 years old. Currently representing 28% of the U.S population they presently encompass the political, cultural, industrial and academic leadership class in the United States. The U.S census bureau estimated that approximately 2.9 million of this generation turned 60 in the year 2006, a total of 7,918 each day.

Drawing from recent research by ASTA, the Travel Industry Association and Yesawich, Pepperdine, Brown & Russell (YPB&R), Lauraday Kelley released Vacation.com’s Top Ten Trends for 2007 including:
Theodore Koumelis - Friday, January 12, 2007
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Poll
How do you expect luxury travel to perform in times of economic downturn?.

Providers of luxury travel products are going to witness shorter stays by their customers and an increase in seasonality.

People are going to become more value conscious and will opt for those luxury offers that represent a convincing value-for-money proposition. Providers of overpriced services are those to feel the pinch.

Both people paying for their personal trips and firms paying for their top executives' business trips will cut back on travel expenses, thus affecting all luxury travel providers.

It is going to be business as usual. Those people opting for high-end travel products are not going to be affected by the looming crisis.

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