Task Length XXXXXXXXXXwords Task Description In this task student is required to analyse the mega trends from the CSIRO tourism futures report and write a report that identifies the underlying drivers...

TOURISM MANAGEMENT     1
TOURISM MANAGEMENT     4
THT3112 GLOBAL TOURISM AND HOSPITALITY FUTURES TOURISM/ HOSPITALITY FUTURES SCENARIO REPORT AND REFLECTIVE REPORT
Executive Summary
Tourism industry is one of the most fastest growing industry around the world. It is one of the major contributors towards the GDP of a nation. With the passage of time, tourism is not just limited to travelling from one place to another, rather it had modified itself to deliver experience to its consumers. With the changing global market, along with increase in the disposable income of people, the consumer behaviour is also changing rapidly. This change in consumer preference is also reflected over the tourism industry resulting into inclusion of many innovative tourism trends. These trends are mainly related with the need for healthy and organic food and drinks, sustainability, personalised service and the rising demand of digitalisation and the use of technology. Among all the nations around the world, Australia being one of the most favoured destination with lot of attractions, exotic destinations, and many more other features which is attracting a huge number of tourists every year. The tourism mega trends will have an impact over the Australia’s demographics, economic interconnectedness, public debt, climate change, urbanisation and others. These mega trends effect will be based on the future planning or course of action that the tourism industry will take place in Australia.
Table of Contents
Executive Summary    2
Introduction    4
Mega Trends in Tourism and Hospitality Industry    6
Key Drivers and Trends Influencing Mega Trends    9
Opportunities and Challenge the Mega Trends have Over Tourism Activities    10
Political, Socio-cultural and Economic Factors Influencing the Emerging Tourism Market    11
Recommendation    12
Conclusion    13
References    15
Introduction
The beginning of tourism had taken place since the human society had felt the need to migrate from one place to another. From the ancient era of Babylonian money traders travelled for business, the Egyptian Queen Harshesput also had taken journey by taking a cruise along the east coast of Africa and the British aristocracy had taken the Grand Tour of Europe with Thomas Cook in the nineteenth century. Tourism is mainly about gathering experience while visiting new destinations, analysing and exploring unfamiliar cultures, their rituals, their way of living, getting involved in shopping, relaxing on beaches, exploring the historical artefacts, enjoying sporting and many more other such attractions that highlight the speciality of the place. The sudden increase in the tourism activity has increased because of increased choice of destination and also the increase in number of tourists (Sofronov, 2018).
In the recent period a trend has been observed among the consumers related with the changing demographics, along with trends related with health, labour and social cohesion. As discussed by Cheer and Lew (2017) that in the context of tourism there is a trend which is most closely related to the evolving demand of the visitors, mainly referring to the trends such as ageing populations and the growth of the middle class sector. Further discussed in the CISRO that humanity will find more new ways to perform more task with limited resources, climate change will also have a sever impact, and the personal experiences will trump the products as per the CISRO’s latest global megatrends report (Dimitrova, 2019). The megatrends that drive the tourism sector in Australia are as follows:
· Silver haired tourists: With respect to the socio-demographic trend of Australia, the increase in the ageing population is considered as one of the fastest growing segments in the tourism sector. The share of the aged population over the age of 60 years has increased from 8% in the year 1950 to 12% in the year 2013, however, the forecasts have shown that around 21% by the year 2050 (Feletto et al., 2019). Therefore, they are the larger chunks of segment who are ready to spend a huge amount of money for tourism purpose. With the advancement of the technology in the medical sector and also the advanced medicines also increase the life expectancy of the aged people.
· Generation Y and Z: With the increase in the aged population, there is also a rapid growth of younger generation of population in Australia, which is expected to represent around 50% of population by the year 2025. The focus of this population group is mainly on the exploration, interaction and the emotional experience. Since, this group of people are left with a lot of disposable income Considering the availability of disposable income, this generation is focusing more on leisure and adventure based travel. Also, this group mixes business with please, because most of them while on the business strip try to take a tour of some exotic location.
· Growing middle class is also being witnessed in Australia, where the increase in average income and fall in the extreme poverty is resulting into the rise in the middle income group of people. Similarly, many middle class income group people from Asia Pacific region and from Middle East region is increasing in the tourist flow in Australia. Based on the tourist flow, the hotel sector is also revamping their accommodation sector to match up with the growing number of tourists.
· Emerging destination: With the growing middle class people and also with increased disposable income and also increase in different travel interests, many of the destinations are emerging in Australia, which have managed to develop and exploit the tourism potential in order to attract and retain tourists. Because of the developed tourist destination, a greater number of international tourists arrival is anticipated in the developed tourist spots of Australia.
· Political issues and terrorism: As the new destinations are emerging during the shift in the global scenario, it can be witnessed that how the ethnic, cultural and religious differences that can be witnessed in Australia together with the political agenda in Australia is creating a tensed situation. Because of this the political unrest, terror attacks and the civil riots are becoming more of a reality. All these things can put a serious threat over the tourism industry in future.
· Technological revolution: Tourism is highly influenced by the technological advancement because that is shaping and changing everyday life of the people. As technology has become an integrated part of our daily life with the mobile internet, navigation systems, smartphones and many more, which is helping the world connected digitally. This change has also impacted the tourism sector by bring ease in the tourism operation by the use of technology.
Mega Trends in Tourism and Hospitality Industry
The mega trends of the tourism industry are...