Skiing is the quintessential winter pastime. But recently, the multi-billion dollar industry is in decline. The number of skiers is falling fast and the industry is scrambling to make up the difference. Is this going to be the end of the ski resort?
According to the video, skier visits down were down 11% last year, to the same participation 30-years ago, and it’s the Baby Boomers that are leaving the sport. As they get older, retire, and die, the Millenials behind them are not replacing them in the same numbers. Right now, Boomers represent 21% of all riders, down from 36% a decade ago.
The Millenials share is growing, but they don’t ski as often, take shorter trips, and don’t have the spending power of the generation that had everything. For every Boomer that gives up skiing, 2 Millenials are required to generate the same income.