Monday, July 28, 2008

Ageing Population Trend and the Tourism Industry

All through out the world changes have been reported in the tourism demand along with the demographic, sociostructural and sociocultural developments. Service providers need to adjust to the changes to compete and stay in the business. The survival of the tourist industry depends on recognizing relevant trends.

The tourism industry does not exist in a vacuum. It is an industry linked to its social and natural contexts. The current and foreseeable socio-demographic shift namely the advancing ageing of society will result in far reaching changes. Many developed countries experience secular decline in the birth rate and simultaneous increase in life expectancy changing the age structure of its population.

Given the sociodemographic trend, senior citizens will make up most of the growth in the tourism industry. One particular reason for believing that senior citizens will be the principal source of growth for tourism in the is the fact that much of this market segment is receiving pensions and financially secure and proves to have substantial purchasing power resources available for tourism. After retirement, the time available also increases substantially. Senior citizens appreciate travel as a way to keep physically and mentally fit and participate in social life.

This situation poses as a challenge to the tourism industry. Adjustments and changes have to be made to transportation design as well as accommodation structures to be able to meet the need and demand of this market segment.

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