Eyewitness reports from the year 2036 - Economical Changes ?
By Woody Wade, Scenario planning expert
Economic changes would seem to be the biggest "no-brainer" of the P-E-S-T quartet: What could be more obvious than the idea that if the economy is strong, the hotel industry will be strong, and vice-versa? That notion needs no justification.But there is more to "the economy" than simply whether it's good or bad at the macro level. For example, how (and where) will wealth be generated in 2036? Will people have the financial resources to travel in the future? Will our labor be valued differently? What about the things we want to buy – will they be affordable in 2036? And what factors will be important to us when we decide what to buy?
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Woody Wade is a specialist in scenario planning for the hospitality industry, helping companies identify and understand the trends that have the potential to change their future business landscape and thus affect their future competitiveness. He is the author of “Scenario Planning: A Field Guide to the Future” (Wiley, 2012) and of the forthcoming “Hotel Yearbook 2036” which provocatively uses fiction as a framework for exploring the industry’s very different competitive landscape two decades from now.More from Woody Wade