The founder of a luxury hotel chain says today's tourists look nothing like they did 30 years ago
Ho's luxury hotel chain, Banyan Group, now operates over 90 hotels worldwide, including in countries like Cuba and Saudi Arabia. The 72-year-old told Business Insider that it's not just his company that's changed. His customers look much different than they did three decades ago, and they want different things out of travel.
"When you talk about the people of my generation, when international travel just started, people were happy to go on group tours. They just go to a hotel and they eat in a hotel," Ho said on the sidelines of the International Conference on Cohesive Societies held in Singapore last month.
"But young people today have long become jaded about international travel. They've been traveling with their parents," he added. "Today, when they're traveling on their own, they are looking much more for things that are out of the way."
Ho said today's more seasoned travelers are a vastly different breed from yesterday's checklist sightseers.
"They are much more into experiences, and not just to see something beautiful because they've probably seen that, done that with their parents already. They are looking at experiences which are deeper and allow them to interact with the local community," he continued.
Ho isn't the only one who has noticed the generational shift taking place.
Last year, McKinsey surveyed 5,000 travelers from China, Germany, the United Arab Emirates, the United Kingdom, and the US. The consultancy said that 52% of Gen Zers surveyed said they are willing to splurge on travel experiences compared to 29% of baby boomers surveyed.
"One-size-fits-all tourism offerings of the past have grown outdated" as travelers seek "creative experiences that are tailored to their priorities and personal narratives," McKinsey wrote.
Another change Ho said he noticed was in the countries from which tourists tended to hail and the places that they chose to visit.
"When I first started in hospitality 30 years ago, the nature of tourism was one direction and one color," Ho said. "It was basically white people from Europe, traveling in one direction, from west to east."
"Over the years, what I call 'rainbow tourism' has come up because of increasing wealth in other developing countries," he added.
Ho said this has led to a "multicolored, multifaceted, exciting tourism of people from all over the world traveling to all over the world."
"You've got Indians, you've got Africans, you've got Arabs, you've got Chinese, and Japanese, and so on, and then of course you've got young people from within the region," he continued. "That to me has been the biggest change."
In January, UN Tourism's World Tourism Barometer said an estimated 1.4 billion tourists traveled internationally in 2024, an 11% increase over 2023. UN Tourism said it expected international tourism arrival numbers to grow by 3% to 5% in 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
10 minutes ago
- Newsweek
One in Four Gen Z Workers Regret Going to College
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. As artificial intelligence transforms the workplace and student debt balloons, a significant portion of Generation Z now expresses regret over their college education. According to a new survey by Resume Genius, 23 percent of full-time Gen Z workers regret attending college, and 19 percent say their degree didn't contribute to their career. Why It Matters The data reveals a generation at a crossroads, questioning not only whether college was the right choice, but also what careers will remain stable in a rapidly evolving economy. Gen Z, those born between 1997 and 2012, is entering one of the toughest job markets in history. A different report from Kickresume showed that 58 percent of recent grads were still looking for a job, compared to just 25 percent of the older generations (millennials, Gen Xers, and baby boomers). A balloon reading "Congrats Grad" floats above the crowd during Harvard's commencement ceremony on May 29, 2025, in Cambridge, Massachusetts. A balloon reading "Congrats Grad" floats above the crowd during Harvard's commencement ceremony on May 29, 2025, in Cambridge, Massachusetts. Libby O'Neill/Getty Images What To Know The top reasons for Gen Z's regret likely stem from overwhelming student loan debt, a lack of job opportunities in their chosen fields, and the perception of a poor return on investment for certain degrees. Only 32 percent said they're content with their education path and wouldn't change it, according to Resume Genius. A different report by The HR Digest highlights that many Gen Zers, facing mounting debt and stagnant job prospects, would opt for higher-paying industries or skilled trades if given another chance. Thirteen percent say they would prefer a path without a traditional degree, evidence of a growing interest in trade schools, apprenticeships, and non-traditional career routes. "Gen Z is carrying debt that either personally weighs them down or is tied to a company benefit that only kicks in if they stay loyal to the firm," Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek. "It's a new kind of indentured servitude. And to make matters worse, many of them are in roles they probably could've landed without the degree in the first place." Generative AI is also drastically reshaping the value of a college degree. A recent Indeed report cited by the New York Post shows that nearly 50 percent of Gen Z job hunters feel their education is already obsolete due to AI's impact. As companies increasingly drop degree requirements and prioritize AI literacy and digital upskilling, many college graduates view their expensive diplomas as less relevant in the modern job market. "These kids got sold a bag of goods. College became this magical ticket that supposedly guaranteed success. But nobody mentioned the $60,000 a year price tag or the fact that your communications degree might qualify you to manage a Starbucks," Michael Ryan, a finance expert and the founder of told Newsweek. "I've had parents sobbing in my office because their kid's drowning in debt for a degree that's essentially expensive toilet paper in today's job market. The math hasn't worked since 2008, but we kept pretending it did." Online learning and AI skills are in high demand, with upskilling programs rapidly expanding as employers need their teams to adapt. "Every job currently posted on Indeed's job board will likely experience some level of exposure to generative AI and the changes it represents," said Linsey Fagan, senior Talent Strategy advisor at Indeed, in a statement to CIO Dive. Gen Z workers are already responding to economic pressures and shifting values by diversifying their income streams. The Resume Genius survey found that 58 percent of Gen Z employees have a side hustle, with another 25 percent considering one, primarily to supplement their income, pursue their interests, acquire new skills, or plan for entrepreneurship. This could also reflect a larger sense of regret about pursuing a degree, rather than investing in more lucrative skills or trades. "Absolutely they regret it," HR consultant Bryan Driscoll told Newsweek. "Society told Gen Z college was the only path to a stable future, then handed them record tuition, predatory debt, and a job market that barely values degrees anymore, while still demanding five years of experience for entry level roles. That math doesn't add up." "This isn't a Gen Z problem. It's a broken promise, a societal lie," Driscoll said. What People Are Saying Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "More and more are questioning whether the degree was worth it, and it shows. Enrollment is falling, and in the short term, this could move the price of college tuition down. "Longer term, I think we'll see a divide. Fewer college grads could mean higher wages for those with degrees, simply because there's less supply. On the other hand, wages for lower-skilled jobs may stay flat or even decline due to oversupply. It's a shift in the labor market that's already playing out." Michael Ryan, a finance expert and the founder of told Newsweek: "[Gen Z is] the first to call BS on the whole system. They see their friends who skipped college making bank in trades or starting businesses while they're making lattes with a bachelor's degree. "The job market's dirty secret? Companies started demanding degrees for jobs that didn't need them. Pure laziness. I've watched electricians out-earn lawyers and plumbers retire at 50 while college grads move back in with mom and dad. We convinced an entire generation that working with your hands was beneath them. Meanwhile, skilled trades are desperate for workers, and the pay reflects it." What Happens Next As college degrees lose luster and AI reshapes the job market, Gen Z is recalibrating its approach to education and careers. Whether through trade school, entrepreneurship, or acquiring digital skills, many are actively seeking alternatives to the traditional college route in pursuit of job security and personal fulfillment. "Gen Z is forcing the conversation we should've had decades ago. They're realizing college isn't magic, it's just expensive. And sometimes the smartest thing you can do is admit you made a mistake and pivot," Ryan said. "The kids who figure this out early? They'll be the ones retiring young, healthy, and wealthy while their debt-laden classmates are still trying to justify their degrees."
New York Post
39 minutes ago
- New York Post
Boomers are sitting on nearly $19 trillion in real estate — here's where they hold the most housing health
Advertisement Baby boomers are sitting on a staggering amount of housing wealth—across the U.S., they own an estimated $18 trillion to $19 trillion worth of real estate. Boomers now hold nearly half of the nation's real estate wealth. This is a direct reflection of decades of homeownership, rising property values, and the generational shift that is now reshaping the housing market. But, where exactly is that wealth concentrated? A new analysis reveals that while boomers—those born between 1946 and 1964—have planted roots across the country, a handful of metro areas stand out as hotbeds for retiree real estate wealth. Unsurprisingly, Florida dominates the list, claiming five of the top 10 spots. Advertisement 7 Baby Boomers own an estimated $18 trillion to $19 trillion worth of real estate. 7 Boomers now hold nearly half of the nation's real estate wealth. Syda Productions – The Sunshine State offers warm weather, no state income tax, and a lifestyle that's long appealed to retirees—but other destinations, from coastal California to scenic New England, are also popular. The ranking combines three factors: the share of homeowners aged 65 and up, the total value of homes in each market, and the estimated value held by older residents. The result is a snapshot of where retirees aren't just living—but where they're holding some of the most valuable pieces of the American housing pie. Advertisement The wealthiest retiree markets in America North Port-Bradenton, FL Real estate value held by homeowners aged 65 and up: $97 billion Share of homeowners aged 65 and up: 56% Median home price: $495,000 In this metro, located in Sarasota and Manatee counties on the coast, more than half of homeowners are boomers. North Port isn't strictly a beach town; the metro includes miles of coastline and many other popular destinations such as Venice Beach. This means retirees have options: either direct access to the beach, or proximate access without having to pay some of the steeper prices that come with the territory. They also own an estimated $97 billion of the roughly $174 billion real estate value in this metro. 7 The Sunshine State offers warm weather, no state income tax, and a lifestyle that's long appealed to retirees. Vane Nunes – Advertisement 7 The ranking combines three factors: the share of homeowners aged 65 and up, the total value of homes in each market, and the estimated value held by older residents. Naples-Marco Island, FL Real estate value held by homeowners aged 65 and up: $70 billion Share of homeowners aged 65 and up: 57% Median home price: $749,000 Also located on Florida's west coast, this area is known as the Sunshine State's Paradise Coast. It offers white-sand beaches, luxury resorts, and an abundance of outdoor activities, with more than 90 golf courses. With more homes within proximity to the water, the area has a higher price range, with the median list price of $749,000. The 65 and older age group owns about $70 billion out of the $122 billion real estate value in Naples-Marco Island. Santa Rosa-Petaluma, CA Real estate value held by homeowners aged 65 and up: $54 billion Share of homeowners aged 65 and up: 47% Median home price: $995,000 Located roughly 40 miles north of San Francisco, this area is in Sonoma County, famed for its wine country and access to nature for active retirees. 'Santa Rosa as a whole is geared toward retirees,' Fermin Escutia, real estate agent at W Real Estate, tells 'Petaluma is the most affordable town north of San Francisco. The sizes of the homes are going to be smaller, but the draw is the small community feel with plenty of events.' Advertisement 7 Map of the U.S. showing top 10 metro areas where retirees hold the most real estate wealth. 7 Located roughly 40 miles north of San Francisco, this area is in Sonoma County, famed for its wine country and access to nature for active retirees. The scenic foggy metro comes at a cost, with a median list price of $995,000. Of the homeowners here, 47% are those aged 65 and up, and they hold roughly $54 billion of the $116 billion real estate value. Barnstable Town, MA (Cape Cod) Real estate value held by homeowners aged 65 and up: $34 billion Share of homeowners aged 65 and up: 53% Median home price: $899,250 Advertisement The Cape Cod region has been a favorite destination among retirees for years, and many are drawn here by the coastal charm despite the chilly New England weather, as well as a slower pace outside the Boston area. 'The summers are beautiful here, and Barnstable has little hidden gems and local villages and charm you can't discover in just one weekend,' Deborah Garner, a real estate agent with Kinlin Grover Compass, tells 7 Of the homeowners here, 47% are those aged 65 and up, and they hold roughly $54 billion of the $116 billion real estate value. But soaking up this classic charm full time comes at a cost, with a median list price of $899,250. New listings are down 6.5% from a year ago, and new construction in the Northeast is less active than in some Southern and Midwestern states, resulting in fewer options available. Homeowners aged 65 and up accounted for $34 billion out of the $64 billion real estate value. 'There is a generational effect where property gets passed down and families find it hard to part with homes,' says Garner. Advertisement Every morning, the NY POSTcast offers a deep dive into the headlines with the Post's signature mix of politics, business, pop culture, true crime and everything in between. Subscribe here! Prescott-Prescott Valley, AZ Real estate value held by homeowners aged 65 and up: $27 billion Share of homeowners aged 65 and up: 58% Median home price: $669,000 In Arizona's Prescott-Prescott Valley market, those aged 65 and up own 58% of the homes. The Prescott area is known for its older demographic, with a median age of 60.3, while the Prescott Valley area tends to draw a younger crowd, according to U.S. Census Bureau data. Arizona, as a state, is a popular destination for retirees, and Prescott-Prescott Valley offers a warm climate without the humidity found in Florida. Insurance costs are lower, too, due to the lack of hurricane threats. The median list price for the area comes in at $669,000, with those aged 65 and up owning $27 billion of the $47 billion real estate value.
Associated Press
an hour ago
- Associated Press
Escape to Italy: Ruralis Connects Americans to Rural Villages
From €1 homes to vibrant communities: Americans discover Italy's rural appeal A growing wave of Americans is discovering irresistible opportunities in Italy's picturesque countryside, driven by affordability, lifestyle allure, and innovative revitalization programs. From symbolic €1 houses to entire villas for the price of an urban condo, rural Italy is emerging as a compelling frontier for overseas real estate investments, a trend accelerated by the post-pandemic desire for open spaces, nature, and authentic experiences. ' Italy's real estate market offers American investors an intriguing blend of competitive pricing and significant potential for mid-term appreciation,' says Umberto Lobina, a real estate expert at McKinsey NYC. According to Lobina, the rise in experiential tourism coupled with attractive tax incentives has positioned Italy as " a strategic platform for diversifying global real estate portfolios. ' Central to this interest is the popular €1 house phenomenon, where towns like Zungoli in Italy's Campania region offer abandoned homes at a nominal price. Paolo Caruso, Mayor of Zungoli, highlights that the town's latest initiative, its fourth to date, includes 11 available properties, " many already in livable condition or needing only basic renovations. " Caruso emphasizes Zungoli's rich cultural heritage and its recognized status as one of Italy's most beautiful villages, noting: " We're actively working to revitalize the village and foster local economic development, warmly welcoming those who wish to settle here. ' Beyond the famed €1 initiative, other Italian towns are attracting attention for similarly enticing opportunities. In Gaiba, a peaceful town near Venice, Mayor Nicola Zanca describes a sharp decline in real estate prices over recent decades. " Properties that once cost €70,000 for just the land, now buy an entire detached home with land,' he explains, adding that " families from big cities are relocating here with budgets ranging from €50,000 to €200,000. And with €200,000 you can purchase a villa ". Gaiba is also investing heavily in local infrastructure, making it attractive for remote workers thanks to high-speed fiber-optic internet, modern facilities, and vibrant community activities like a tennis club, a nautical club and an equestrian center, but also a large number of different events. Furthermore, the proximity of highways allows people to live in a peaceful and quiet place without giving up the possibility of carrying out different activities or frequenting larger urban centres. The allure of Italy's lifestyle plays a substantial role, exemplified by Tom Leonard, an American expat who moved from California to Florence in 2024 through Italy's Investor Visa program. Leonard's life took a transformative turn when personal circumstances changed in California, presenting him the chance to pursue a lifelong dream. After an inspiring month-long stay in Florence, Leonard chose the Investor Visa route by investing in a local startup, providing both residency and the opportunity to work. " Italy holds a special, almost magical place in the hearts of many Americans,' Leonard says. He now enjoys life in the hills overlooking Florence, immersing himself in Italian culture, food, art, and language, and is eager to encourage others to consider Italy for their own next chapters. Navigating the practicalities of buying and managing properties in rural Italy, however, remains a challenge for many prospective buyers. Nicolas Verderosa, CEO of Ruralis, underscores the enormous untapped potential in these charming Italian towns. Verderosa recounts his own challenges understanding the processes behind these affordable housing schemes. " Travelers are booking stays across Italy's rural villages, but the real estate market remains primarily local and underdeveloped, " Verderosa notes. Recognizing this gap, Ruralis streamlines property management, enabling American investors to seamlessly enter the booming short-term rental market. " Many Americans want to invest in Italy, but they just don't know how. Here at Ruralis, we're happy to connect with anyone looking to invest in Italy and support them with a simple, streamlined process. " he emphasizes. Italy stands out as an ideal location for foreign real estate investment, combining affordability, cultural richness, vibrant communities, and significant appreciation potential. As global trends push individuals to reconsider urban living in favor of more spacious, authentic, and nature-oriented lifestyles, Italy's rural towns and villages offer not just investment opportunities, but also fulfilling new beginnings for those looking to embrace a uniquely enriching way of life abroad. Media Contact Company Name: Ruralis Contact Person: Nicolas Verderosa (CEO) Email: Send Email Country: United States Website: Source: Brand Push
