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Fact: In 2006, 7
Trillion Dollars was spent on Travel.
It's outpacing the Global Economy by 23%annually! Travel is
anticipated to reach $14 Trillion annually by the end of this
decade. |
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Trend #1
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| Travel is an
industry that is just realizing its remarkable potential in the
marketplace. The industry pulls approximately $1.3 trillion annually
in the U.S. alone and almost $7 trillion worldwide, making it the
fastest growing industry in the world. It is growing 23% faster than
the global economy. With such growth, a boom is on the horizon. In
fact, travel is expected to double to $14 trillion worldwide in the
next 10 years. Of that economy, tourism accounts for almost 11
percent of all consumer spending worldwide. Travel spending alone
averages $1.4 billion PER DAY; that's $59 million per hour.
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Trend #2 |
| Baby boomers - the generation born between 1946 and 1964 -
have a huge effect on trends and opportunity and will have a huge
effect on the travel industry. There are nearly one billion baby
boomers worldwide and the first of them are turning 60. These
60-year-olds are facing retirement, which occurs at a rate of one
person every eight seconds, or 10,000 per day for the next 20
years. And what will these newly retired baby boomers do when
they retire? Travel, of course.
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Trend #3 |
| Every three seconds a new person goes online. Consumers are
already spending billions on the Internet, and travel is the
fastest-growing segment of that trend. While five years ago, people
primarily made small purchases only, today people have become
comfortable buying things such as cars, homes, and of course
travel, online. Consumers use the Internet to become better
informed, save time, and save money and booking of travel online
is perhaps the most successful niche of all the world's e-commerce
efforts. Use of the Internet to book travel continues to increase,
with more than 80 million Americans booking online travel each
year. The majority (83%) of online consumers are using the
Internet to do at least half of all their travel booking.
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Trend #4 |
| Statistics show that small and home-based businesses are the
fastest growing segments of the U.S. economy. Home-Based travel
sellers are the fastest growing segment of the travel agency
community. Statistics say that 74% of all individuals who have
acquired huge wealth have done it by being self-employed
business owners. When surveyed, 96% of people between the ages
of 25 and 44 said they wanted to have their own business, but
they just didn't know how to get started! With large and mid-sized
companies downsizing and outsourcing, corporate America offers
little promise for job security. That's why people are turning to
home-based businesses as a high performance vehicle that can
take them into the future along with big time earnings and tax
advantages.
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