Marketing Review — Summer 2008 - (Page 22) TREND #15 Family structures are becoming more diverse. be interesting to see what develops among the children of the Millennials, something we find difficult to predict with any confidence. IMPLICATIONS: Disappointed ambitions will be a major source of political unrest in the United States and many other countries in the next two decades. Most of the other countries seriously affected by this trend will be in the developing world or will be host to large numbers of disadvantaged immigrants. Entrepreneurialism will be a global trend, as members of Generation X and the Millennials throughout the world tend to share values. Generation X and Millennial entrepreneurs are largely responsible for the current economic growth in India and China, where they are becoming a major force in the Communist party. In India, the younger generations dress and think more like their American counterparts than their parents. In China, the democratic fervor that spawned Tiananmen Square has been replaced by capitalist entrepreneurialism. If younger-generation workers find their ambitions thwarted, they will create growing pressure for economic and social reform. If change does not come fast enough in the developing world, disappointed expectations will raise the number of young people who emigrate to the developed lands. 22 17 In the United States, pressure will grow to provide more, and less burdensome, economic assistance to qualified high school graduates who cannot afford to go on to college. Pressure also will grow to make sure that all American students have access to an education capable of preparing them for college or a rewarding career. IMPLICATIONS FOR HOSPITALITY AND TRAVEL: Young people concerned with economic success may be even less willing to accept entry-level jobs, yet under-equipped to take on more demanding roles. This is likely to increase job turnover, even in non-menial positions. The most important asset for motivating and keeping these potential workers will be a strong training program that gives them a clear path for advancement. Unfortunately, this may be difficult to provide. SB10069010J-006/LOUNGEPARK/GETTY IMAGES 17) Generation X and the Millennials are gaining social and organizational influence. Members of each group—roughly the over-35s and the 20somethings—have much more in common with their peers than with their parents. Their values and concerns are 55 TRENDS FOR TRAVEL & HOSPITALITY • SUMMER 2008
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