Opportunity in travel?

Location. Location. Location. You hear this all the time in real estate. Location is key. However, in business your success usually has more to do with timing. In the travel industry, right now is that moment.

There are two trends that are merging at this very moment that could put this market in position for exponential growth.

TREND #1:

Simply put, travel is the world’s largest industry. Worldwide, over $7 Trillion is spent annually, and at a growth rate that’s on track to double in the next 4-6 years, it’s a vast market to say the least. Baby Boomers are retiring at the rate of 1 every 8 seconds and will continue to spur this growth for the next 10-20 years.

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“Leaders aren’t born they are made. And they are made just like anything else, through hard work. And that’s the price we’ll have to pay to achieve that goal, or any goal.”
Vince Lombardi

Recently, I read a column by Daniel Kadlec in USA Today about the baby boomer transformation from being a “Me Generation” to a “We Generation.” Although I applaud Kadlec’s insight, we must wait to see if this generation follows through on his claim about baby boomers now being unselfish. As a scholar and practitioner, I have closely watched the demographic shifts in America. Are baby boomers now transformed into “We Generation” leaders?

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