Marketing Review — Summer 2008 - (Page 24) TREND #18 Two-income couples are becoming the norm in most of the industrialized lands, although in the United States the trend toward greater employment among women is slowing. ASSESSMENT: In the industrialized nations, this trend has just about played out, as the number of two-income households has begun to stabilize. However, it will be a growing force in India and other industrializing lands for many years to come. IMPLICATIONS: This emphasis on work is one big reason the richest 25 to 50 percent of the U.S. population has reached zero population growth. They have no time for children and little interest in having large families. Demand for on-the-job child care, extended parental leave, and other family-oriented benefits can only grow. In the long run, this could erode the profitability of some American companies, unless it is matched by an equal growth in productivity. This also promotes self-employment and entrepreneurialism, as one family member’s salary can tide them over while 24 the other works to establish a new business. Expect to see many families that usually have two incomes, but have frequent intervals in which one member takes a sabbatical or goes back to school to prepare for another career. As information technologies render former occupations obsolete, this will become the new norm. IMPLICATIONS FOR HOSPITALITY AND TRAVEL: Twocareer couples can afford to eat out often, take frequent short vacations, and buy new cars and other such goods. And they feel they deserve whatever luxuries they can afford. This is quickly expanding the market for travel and leisure activities. It will continue to skew the travel and hospitality markets away from traditional two-week vacations and toward three-day weekend getaways, “cruises to nowhere,” and other forms of shortterm pampering for pressured couples in need of a break. 55 TRENDS FOR TRAVEL & HOSPITALITY • SUMMER 2008
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