One + September 2010 - (Page 88)
Four Macro Trends in the Global Economy
BY SUZANNA DE BACA
The Changing Consumer Landscape
The consumer landscape will continue to change and expand signiﬁcantly as nearly 1 billion consumers from new or maturing emerging markets are expected to enter the global arena this decade. Consumers’ spending power in these economies is anticipated to almost equal the spending power of Western Europe by 2015. “The world has woken up to global expansion,” said Dave Scypinski, senior vice president of ConferenceDirect, pointing to the recent development explosion in China, India and Southeast Asia. As the consumer changes, so will global labor and talent strategies. Leading the charge, Disney, Hyatt and Marriott are collaborating with the Payne School of Hospitality and Tourism Management at San Diego State University on exchange programs with China and other Asian countries to cultivate talent for their international properties. And Carl Winston, the school’s director, says North American companies realize they’ll need executives who can manage in new markets, with appropriate language skills and cultural understanding. Scypinski predicts that increased globalization, coupled with a difﬁcult economy, will result in consolidation of sales and more frequent outsourcing of sales functions to independent organizations. This trend is already manifesting itself at Tourism Toronto, according to Julie Holmen, the company’s director of corporate sales, which has contracted organizations in Argentina, Brazil and the U.K. to represent Toronto to their local customers.
Back in the last century, when only birds tweeted and recycling was the domain of a handful of tree-huggers, few envisioned the year 2010. But now, a decade into the 21st century, we have become more global, more mobile, more connected and more eco-conscious. These and other trends continue to emerge, evolve and change the way we live and do business. Understanding the big picture and adjusting strategy or business practices to respond can mean the difference between success and failure for any business.
Online and Social Networks Driving Real Interaction
Table of Contents for the Digital Edition of One + September 2010
One + September 2010
Energy of Many
Share Your Mind
Thoughts + Leaders
Five Years Later
What You Missed
TMI at Your Peril
Men Behaving Badly
You Can Go Your Own Way
Falling for Food
The Quick Guide to Keeping Your Top Talent
What’s the Right Risk?
Get an (Economic) World View
Making a Difference
Until We Meet Again
One + September 2010