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For many consumers today, travel is more than just a change
of scenery--it's a journey with a sense of purpose, whether it's
eco-tourism, cultural immersion or adventure. Creating an experience
for jet-setters can be your ticket to success in this $600 billion
industry.
Baby boomers are the
biggest market, with the highest volume of travel, says Cathy
Keefe of the Travel Industry Association of America. They took
a staggering 268.9 million trips in the U.S. in 2003, according
to TIA's "2004 Domestic Travel Market
Report." They not only have the time and disposable income to
travel, but their sense of youth and yen for exploration is also
spurring opportunity in the adventure-travel niche. While this
segment can include extreme adventures like rappelling or white-water
rafting, boomers typically seek out "soft" adventures like safaris,
bird-watching and sailing. Keefe also notes a rise in luxury
adventure tours, where days might be spent roughing it, but nights
are spent in cozy quarters.
Other sizzling markets include women (think culinary tours and
spa getaways) and adults who want to learn a new skill, sport
or hobby--30.2 million adults, in fact, took an educational trip
in the past three years, according to the same TIA report. Millennials
(those born after 1982) hold tremendous opportunity for entrepreneurs
as well. Millennials are an adventurous bunch and will go online
to research and book trips. To learn more about offering travel
services to any generation, Keefe suggests attending adventure
and travel expos and industry conferences.--A.Y.P.
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