What Will 2020 Look Like?
As we enter a new decade, of course it's natural to look back on past decades and reminisce. However, I find it more interesting to look forward and imagine what 2020 will be like. I mean, it's only 5 years past the date when Marty McFly traveled "back to the future." It's impossible to say for certain how the world will look and act then, but there are some hints today for what will be popular tomorrow. Unfortunately, I don't think that flying cars or levitating skateboards are in the cards though!
For example, the hottest concept cars at the Detroit auto show this week are the ones that use the least energy. When I look back 10 years to 1999, I remember gas-guzzling SUVs were the car all my peers lusted after. In 10 years there has been a slow shift to more fuel efficient vehicles brought on, in my opinion, by ever-increasing gas prices. As the demand for oil increases from the developing world, it makes sense that by the beginning of the next decade increased fuel-efficiency will be more standard.
Additionally, the US government today is making changes that likely won't be in full effect until the end of this decade or the beginning of next. Healthcare overhaul, new banking regulations and proposed environmental initiatives are just a few issues on the horizon. Other nations are making changes as well. China is growing rapidly is soon expected to become the world's second largest exporter. With that kind of wealth-building within the country, the next decade could see China's consumption of goods dramatically increase.
And, finally, what effect will the current economy have on today's youth? Millions have watched their parents lose their job, have hours cut, or have anxiety over job security. In a decade these kids will be entering the workplace and setting up their own households. Will the frugality and tight budgeting they experienced as a child mean they will be less likely to incur debt? Or that they'll save more? Their consumption spending will have a large impact on all manufacturers.
This next decade will certainly be interesting, whatever happens.
Submitted by: Katy Lellelid
For example, the hottest concept cars at the Detroit auto show this week are the ones that use the least energy. When I look back 10 years to 1999, I remember gas-guzzling SUVs were the car all my peers lusted after. In 10 years there has been a slow shift to more fuel efficient vehicles brought on, in my opinion, by ever-increasing gas prices. As the demand for oil increases from the developing world, it makes sense that by the beginning of the next decade increased fuel-efficiency will be more standard.
Additionally, the US government today is making changes that likely won't be in full effect until the end of this decade or the beginning of next. Healthcare overhaul, new banking regulations and proposed environmental initiatives are just a few issues on the horizon. Other nations are making changes as well. China is growing rapidly is soon expected to become the world's second largest exporter. With that kind of wealth-building within the country, the next decade could see China's consumption of goods dramatically increase.
And, finally, what effect will the current economy have on today's youth? Millions have watched their parents lose their job, have hours cut, or have anxiety over job security. In a decade these kids will be entering the workplace and setting up their own households. Will the frugality and tight budgeting they experienced as a child mean they will be less likely to incur debt? Or that they'll save more? Their consumption spending will have a large impact on all manufacturers.
This next decade will certainly be interesting, whatever happens.
Submitted by: Katy Lellelid
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posted by SGIA Blog at
9:00 AM
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