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Demographic Trends and Changes        1
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Demographic Trends and changes
Introduction
The use of Demographic Characters such as age, geographic location, gender, race, income, education, marital status, education and family size is a common approach that has been used to identify markets. These characters are easily measured, understood easily and are available readily in published form. This is what makes the demographics extremely popular. These demographic characteristics can be used to identify market segments, plan appropriate mixes and estimate the potential of the market. The following essay shall stress on another major use of demographic, which is to monitor the trends and changes in the cultural environment and to find new market opportunities.
Different demographics have a drastic effect on the tourism industry. The tourism industry in Australia and New Zealand can be largely impacted by the long lifespan of senior citizens. The average life expectancy of male in Australia was estimated to be around 82.45 years. This could be a huge boost for the tourism industry, as people who are in the post-retirement and post-family stage can afford to spend on luxuries such as tourism (Silberbaur and Schmid, 2017). The second demographic that affects the industry is the baby boomers. Baby Boomers are people born between 1946 and 1964 (Fordyce-Voorham, 2016). A study claims that by 2050, there will be 2 billion trips every year that will be taken by baby boomers alone. This will negatively affect the beach holidays in both the countries, but increase educational or cultural tourism. However, since most baby boomers prefer traveling to Europe, this will have a negative effect on tourism in Australia and New Zealand. The third demographic is Generation Y. Generation Y, who have a large mortgage and a growing family, are often tight with money. Thus, for vacations, they would travel to the nearest vacation spot that might be within driving distance (Lunberg, 2017). This would mean that international tourists would decrease in number, but the domestic tourists, especially to beach towns, would be the same (Patel, Vega, et al, 2018). The fourth demographic is single adult households. Most single-adult households are tight with money. The loss of an adult often results in having to budget on the income that could potentially be generated and thus, single adult households would not be able to afford going on vacations. A smaller family unit, which consists of 2 parents and one or two children however, would mean that there is enough income that could be spent on vacations to places that would be considered expensive. This would have a positive impact on the tourism industry.
The cosmetic industry, which comprises of cosmetic surgery, hairdressers and producers of makeup, is also influenced by the following demographic factors. The industry is...