Management project Essay Example | Topics and Well Written Essays - 2500 words

Management project - Essay Example Generation Y are engaged in extensive internet and new technology usage. They are innovators in the social media platforms. The youth segment accounts for high mobile and broadband internet for accessing information and online purchasing. With increased demand from this market segment, the airline industry went on to introduce more flights at cheaper rates. The impact of youth travels is not only limited to the travel industry but to the technology and telecommunication industry as well (Richards, and Wilson, 2004) The author Moutinho (2011) in his book explains the impact of youth travellers on the global tourism sector. More than 20% of the total international travels were the youth. The total international travels accounted for 940 million in 2010. The global tourism industry received $165 billion in 2010 from young travellers and also expects this number to grow in the coming years. The young population has driven the change in the communication technology and has forced the tourism industry to build new communication system to interact with them. The tourism industry has benefitted from the new market segment of not only through increased revenue but also allowed them to integrate their strategy with sustainability. The youth travel industry accounts for 190 million travels a year and its rate of growth has exceeded the growth rate of travel industry. The annual international youth trips are expected to reach 300 million trips by 2020 (Moutinho, 2011). The author Loudon (2001) explains that youth travel contributes to the development of local communities and the economies. It is seen that young travellers spend as much as 60% of their travel budget in the destination place. Small economies are solely dependent on the tourism sector for their revenue and the travel receipts from the young travellers contribute to the earnings of the local community. Local communities benefit from the