Generational Changes Are Creating Pressure in the Tourism Industry with the Changing

question 40

Essay

Generational changes are creating pressure in the tourism industry with the changing demands of customers.These changes impact the tourism product in the majority of sectors.
a)Discuss two generational changes that Generation Y brings to the tourism industry and how the industry will need to evolve.
b)Discuss how the boomers are evolving into zoomers and how tourism products and services will need to adapt.

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Definitions:

Reserves

Assets kept on hand by a bank or financial institution to meet emergency needs or regulatory requirements.

Transactions Demand

The demand for money for the purpose of carrying out transactions or day-to-day expenditures.

Medium Of Exchange

An intermediary instrument, such as currency or digital tokens, used to facilitate the sale, purchase, or trade of goods and services between parties.

Small CDs

Compact discs used for storing digital data, typically with smaller capacity than standard CDs, used for various types of media or data storage.