The Leisure Economy: How Changing Demographics, Economics, And Generational Attitudes Will Reshape Our Lives And Our Industries

T H E LEISURE E C O N O M Y T H E LEISURE E C O N O M Y How Changing Demographics, Economics, and Generational Attitudes Will Reshape Our Lives and Our Industries LINDA NAZARETH Copyright © 2007 by Linda Nazareth All rights reserved. No part of this work covered by the copyright herein may be reproduced or used in any form or by any means—graphic, electronic or mechanical without the prior written permission of the publisher. Any request for photocopying, recording, taping or information storage and retrieval systems of any part of this book shall be directed in writing to The Canadian Copyright Licensing Agency (Access Copyright). For an Access Copyright license, visit www.accesscopyright.ca or call toll free 1-800-893-5777. Care has been taken to trace ownership of copyright material contained in this book. The publisher will gladly receive any information that will enable them to rectify any reference or credit line in subsequent editions. National Library of Canada Cataloguing in Publication Data Nazareth, Linda, 1963The leisure economy : how changing demographics, economics, and generational attitudes will reshape our lives our and our industries / Linda Nazareth. Includes index. ISBN 978-0-470-84034-4 1. Leisure–Economic aspects–Canada. 2. Leisure–Economic aspects–United States. 3. Leisure industry–Canada–Forecasting. 4. Leisure industry–United States–Forecasting. 5. Economic forecasting–Canada. 6. Canada–Economic conditions–1991-. 7. Economic forecasting–United States. 8. United States–Economic conditions–2001-. I. Title. HC95.N39 2007 330.971’00112 Production Credits Cover and interior design: Adrian So Typesetter: Thomson Digital Cover photos: Getty Images Wiley Bicentennial Logo: Richard J. Pacifico Printer: Tri-Graphic Printing Ltd. John Wiley & Sons Canada, Ltd. 6045 Freemont Blvd. Mississauga, Ontario L5R 4J3 Printed in Canada 1 2 3 4 5 TRI 11 10 09 08 07 C2007-902557-9 This book is printed with biodegradable vegetable-based inks. Text pages are printed on 60lb. 100% PCW using TG ECO100 by Tri-Graphic Printing, Ltd., an FSC certified printer. Logo For Madeline CONTENTS Acknowledgments Introduction: A European Life xi 1 Chapter 1: The Color-Coded Refrigerator Measuring Leisure Time By the Numbers: A Glut of Leisure Time The Time-Crunch Economy 9 11 16 19 Chapter 2: Economic Progress and Leisure Ruin North American Work—A Long History of Long Hours A Decade without Leisure The North American Aversion to Leisure The “Yuppie Kvetch” Escaping from the Neo-Leisure World 27 28 36 39 44 49 Chapter 3: Time Off for Good Behavior The Time Crunch: A Matter of Demographics The Age–Leisure Equation Generation: The Defining Role 53 54 55 59 vii Contents Pre-Boomers: Setting the Stage Enter the Baby Boomers: A Special Case Work Ethic or Workaholic? Boomers at Play Boomers and their Children: The Echo Aging into Leisure Making Leisure Cool 61 63 63 66 67 68 72 Chapter 4: In Praise of Slacking The Slacker Generation(s) Generation X (1965–1976) Unlucky and Cynical From Divorce to Family First Generation Y (1977–1999) Educated and Diverse Tech Savvy and Then Some Super-Parented or Spoiled? The Slackers Go to Work Gen X at Work Gen Y at Work Opting Out of Work Crafting a Leisure Economy 75 76 77 78 79 80 81 82 82 84 84 86 92 99 Chapter 5: The New Haves and Have-Nots Lofty Values, Gigantic Debts What Cost Education? What Cost Credit? Saving: A Lost Art? Reading the Trends Magic Bullets for Gen Y Grandparents The Housing Market Pleasing No One: The Boomer Haves and Have-Nots Confronting Leisure Envy viii 103 108 109 110 111 112 114 114 114 116 130 Contents Chapter 6: Welcome Back, Fido The Boo