1/3 of Travel is USA. The average life expectancy is now until 82. There are now 100 Chinese million travelers outside of the world. India, Japan, Korea, Germany, UK, and Spain have been great travel destinations. In the last ten years, China (1.4 Billion), India (1.2 Billion), and Russia (200 Million) to make 3 billion travelers. China is more capitalistic where India is more democratic and socialistic. Russia has been bridging the closeness with the rest of Europe. Food pricing goes up when fuel does.
- 35-55 Age group = income
- Still Exploring 55-70 (40%)
- 70+ = Don’t Make
- 18-35 Biggest Change (30%)
More airlines making brochures in Chinese; Changes languages and destinations. The Middle Class is five times bigger from 100 Million to 500 Million people. Most of them can afford a car and eat steak. Saudi creates political instability though to reduced public rigs and increased pricing. People started traveling in the United States. People started traveling in US. Travel agents started disappear OTA’s started here, booking can price lines expedia. Unit price for travel is bigger and the type of traveler has fewer destinations, but more units. Smaller amount and unit. The use of technology for service and delivery. Autos, airplanes, ships with engines, and the US create trends. Americans don’t travel due to lack of vacations. Japan accepts Starbucks more than Asia.
Supply: Destination, Travel Agency
Demand: Travelers, Businesses, Schools, Government, Associations, and Travel Agency
Wal-Mart is the largest company in the world because of the number of employees, and #of turnover. Travel Industry Structure consists of supply and demand.
Make this a pyramid!
Your target is the vision and your mission is how to get there. What tactics can you use?