Demographic Change and the resulting Opportunities and Risks for the Travel Industry

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Demographic Change and the resulting Opportunities and Risks for the Travel Industry

12.04.2019

As part of the DRV area meeting of pillar E on April 11, 2019 at Dresden Airport, Stephan Haller, managing partner of Dr. Fried & Partner, on demographic change and the resulting opportunities and risks for the travel industry.

Demographic change and its challenges for the travel industry

The optimal fulfillment of the different needs and requirements of customers and employees of different age groups is one of the central challenges for the travel industry in the coming years. This is one of the key messages of the presentation by Stephan Haller on demographic change in Germany. In the course of the presentation, the profound changes within the society were clarified. Growing disparities between age groups, around eight million fewer people of working age with an increasing birth deficit, and a population decline of around five million by 2040 are just some of the challenges that society and tourism will face in the future.

Age alone is not a suitable indicator in supply design

Although – despite progressive demographic change – tourism demand in Germany is currently at a stable level for the time being, demand shifts. Not only the number of trips of older people is increasing, the change is reflected in a changed travel behavior. More culture, health and nature as well as increased quality standards and a change in the types of travel towards, for example, more cruises or more single vacations shape the picture. The talk made it clear that the tourist offer has to adapt to the changing circumstances. At the same time, demand elements that are demanded from older target groups, such as more service and convenience, can increase the attractiveness of the offer across all target groups. However, it also became clear that socio-demographic characteristics alone are no longer sufficient for optimal supply design and classification.

Experience of the old combined with creativity of the young

Changed communication behavior, a change in social attitudes and different values ??of the individual generations pose constantly new challenges for employers. Thus, “New Work” and a demographic-oriented personnel and organizational management as well as flexibility and attractiveness in terms of workplace design according to individual needs are becoming increasingly important. Consequently, companies face the challenge of bringing the experience of the elderly together with the creativity of the younger generation and generating synergy effects.

We are pleased that we were able to make a contribution within the scope of the DRV area assembly and we would like to thank you for the invitation.

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