Fireside Chat, Panel
Taking Travel, Leisure, and Transportation to the Next Level
Milken InstituteCarol Massar, Michael Flaskey, Glenn Fogel, Josh Giegel, Caryn Seidman-Becker, Rob Wiesenthal
- High-speed ground transport via Hyperloop is projected to serve mass markets in India and the Middle East within the next 30 years, aiming for capacities of 16,000 to 20,000 passengers per hour with departure intervals of two to three minutes, though the global rollout is expected to result in approximately a dozen projects rather than a ubiquitous network.
- Electric vertical takeoff and landing (eVTOL) aircraft are anticipated to become commercially available in roughly five years, eventually replacing helicopters for mass transit as costs decrease and stigma vanishes, while certification challenges and infrastructure requirements for power and secure elevators may extend timelines beyond the 2021-2023 range.
- Booking Holdings is expected to evolve into an AI-driven system integrator for seamless, stress-free travel and is projected to go public within a 36 to 48-month window, contributing to a future travel industry that is carbon neutral with expanded landing zones in approximately 10 years.
- Biometric technologies, including facial and voice recognition, will become pervasive to eliminate physical wallets and enhance safety, with new pilot programs in healthcare check-ins, though regulations such as Illinois' BIPA will mandate opt-in consent for every experience.
- Diamond Resorts anticipates a demographic shift toward younger consumers driven by a new 10-year product with a seven-to-ten-year commitment, which is expected to supersede the traditional perennial product currently accounting for 80 percent of sales.
- Significant financial and regulatory hurdles remain for mega-projects like maglev and high-speed rail, requiring massive government contracts similar to those received by aerospace firms, alongside the need to harden cybersecurity for autonomous pods to military drone standards.
- Economic success indicators for the travel sector are expected to improve under current deregulation and pro-business policies, while future large aircraft are predicted to be battery-driven, autonomous, and optimized as part of a network rather than operating as individual vehicles.