We live in times characterized by change and volatility, yet we can be certain of one thing: consumer values, needs, and behaviors will continue to evolve. Consumer 2020: reading the signs draws together insights into economic and demographic trends, considerations of finite resources, and the ever-more dramatic impact of technology on our daily lives, in order to make some predictions about how our attitudes and patterns of consumption will change over the next decade.

Following a lengthy downturn, the hotel industry entered a recovery in 2010, with gains continuing to strengthen as the year progressed. On the heels of a three-year decline in occupancy and a two-year drop in revenue per available room (revPAR), occupancy for the first 11 months of 2010 improved 5.7 percentage points compared with the same period in 2009. RevPAR, which experienced a record 16.6% decline in 2009, rose 5.4% for the first 11 months of 2010, according to Smith Travel Research (STR). In particular, November’s 11.8% increase in revPAR was the best monthly performance for the industry since late 2005.

A new business traveler survey conducted by Deloitte’s Tourism, Hospitality & Leisure (THL) practice indicates that many are anticipating an increase in corporate travel for 2011, which would be a welcome boost in customer demand for the hospitality and travel sectors. By the end of 2011, 80 percent of business travelers surveyed predict they will take more or the same number of business trips than they did in 2010, with a similar number (79 percent) of respondents indicating that they will also spend the same or more.