REPORT – 55th PATA CONFERENCE – THAILAND: The Baby Boomer segment of the travel market, in terms of expenditure, will continue to grow over the coming decades, while Generation X is fast becoming a driving force. The…
REPORT – 55th PATA CONFERENCE – THAILAND: The Baby Boomer segment of the travel market, in terms of expenditure, will continue to grow over the coming decades, while Generation X is fast becoming a driving force. The smaller Generation Y tends to stay at home, having become slaves to the screen.
Delegates to the 55th Pacific Asia Travel Association (PATA) Annual Conference learned this during the April 25 plenary session on Baby Boomers and the Challenge of Generations X & Y, moderated by Editor of PATA Premier Partner magazine TIME International.
Asian Demographics CEO & Director Dr Clint Laurent said Asia is not a young market, as many may think. For example, China (PRC)`s one-child policy has created a numeric imbalance between older and younger generations in the same way that the Baby Boomers generation has in Japan.
Dr Laurent said the region holds multiple segments based on age and affluence, and he grouped countries with similar demographics:
- Japan has the largest and most affluent Baby Boomer market
- The over-40 segment in Hong Kong, Chinese Taipei and Korea (ROK) is climbing the fastest
- 1% of China`s 200 million Baby Boomers have a reasonable sum of money and time
- India has the youngest market
Japan Travel Bureau Foundation Managing Director-Marketing Mr Hidetoshi Kobayashi presented statistics for the Japanese market that show Baby Boomers and Generation X driving the country`s outbound travel.
Mr Kobayashi said Generation Y is less eager to travel, preferring to purchase goods. Travel must compete with home entertainment and the Internet for the attention of Generation Y, he said.
High-yield Australian and New Zealand Baby Boomers spend AU$200-AU$300 per person, per day, according to Roy Morgan Research International Director-Travel, Tourism & Leisure Ms Jane Ianniello.
Though they mostly travel to English-speaking countries, Ms Ianniello said that conversion rates for Asia Pacific destinations are very high, because they are close.
DERTOUR Director-Africa/Middle East/Asia Pacific Ms Petra Fraatz said that German Baby Boomer travellers to the Asia Pacific require flexibility, as they prefer to create their own holiday packages. She said generations X and Y are more difficult to predict.
Ms Fraatz said that population development over the next 30 years shows a growing Baby Boomer market, while the younger market is continuously shrinking.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
