Age Group Composition of the U.S. Population

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Age Group Composition of the U.S. Population

• Baby Boomers
• Born 19461964
• Constituted over one-fourth of the population in
  2003
• Generation Xers
• Born 19651975
• Have reputation as worldly wise, independent,
  pragmatic, computer savvy, ad-intelligent
  consumers

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Age Group Composition of the U.S. Population
(continued)

• Echo Boomers
• Born 19761994
• Children of baby boomers
• Will have overtaken baby boomers in number by
  2010

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Growing Diversity of the U.S. Population

• Hispanics and African Americans are about equal
  in number, while the latter continue to be the
  slightly largest minority group after 2003
• Most U.S. Hispanics (almost 60 percent) are of
  Mexican origin
• The number of Asian Americans is expected to
  increase over 100 percent from 1990 to 2001

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Changing Family Composition

• Households with only two people
• Largest segment today36 million
•  Spend more than any other household
• Households with children under 18
• Will continue to decrease as baby boomers
  children grow up and leave home

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Changing Family Composition (continued)

• Single-person households
• Growing because more people are delaying marriage
  until completing their education
• Good potential customers for the hospitality
  industry
• Single parents
• Have relatively lower incomes
• Eat out less often than the average American
• Less likely to be hotel customers or to travel

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Key Factors of Supply

• Land and its produce (food)
• Labor
• Capital

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Good Locations for Hospitality Establishments

• High-traffic areas
• Locations near major destinations
• Locations associated with scenic beauty

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Hospitality Occupations Expected Growth Rates
from 2000 to 2010

• Growth of U.S. workforce 15.2
• Management jobs 12
• Chefs and head cooks 9
• Foodservice management jobs 15
• Lodging management jobs 9.3
• Cooks and food preparation jobs 12.3
• Food and beverage servers 22.7
• Flight attendants 18.4
• Travel agents 3.2

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