Financial Times

To be or not to be? That is the question
By Random Access Memory (RAM)
With due apologies to Shakespeare, the bard, RAM this week takes on the timeless universality of the dilemma faced by Hamlet, the Prince of Denmark in the yore. According to a new report published by the Standard Life Bank in collaboration with the Future Laboratory of the UK, a significant majority of the 30-plus in the UK are now questioning the relevance of the corporate entities and institutions that serve them, their influence on their lives and are seeking to make use of the new affluence they have gained to escape from their influence to lead lifestyles different to what they have now.

The relevance of all of this to Sri Lanka is that we plan to bank on a new upmarket 'spirit of travel' type tourism to enhance our potential to take our industry forward, in the years ahead. The past 40 years saw us catering to the sun, sea, sand worshippers, who had only that much in money and aspirations to offer us. That suited us fine then, for our own act was in disarray, for at least half of those years. But today's lifestyle changes, as recorded at our foremost market the UK, offer us new challenges and new opportunities. These trends seem to transcend the UK, to several other societies where disillusionment and affluence calls for changes in lifestyle. Hence, the call for us to change our own style, our offer and gear ourselves to make the most of these market trends.

There is also the ability today, for us to pick and choose. One-to-one marketing on the Internet and affinity group sourcing are two tools we have with us to reach targeted groups of clientele. An impossible task a decade ago, but thanks to info-communications development; only creative product packaging and a 'click of a mouse away', on your computer today.

According to Martin Raymond, the report's author and managing director of The Future Laboratory, "This generation of thirty-somethings doesn't want to play the corporate game any longer.

They are unhappy, unhealthy, too cosseted and too controlled. They want to do things for themselves, rely on themselves and have stopped trusting government and business to look after them."

David Macmillian, Marketing Director of the Standard Life Bank says, "The report has confirmed a major trend - financially savvy mortgage customers exploiting the fact that they have equity in their houses to make momentous changes to their lives." Four distinct groups are identified in the report with over 60 per cent being at the forefront of the movement.

They are termed the Cross-shifters, New Authentics, HERO's and Contrasexuals. The Cross-shifters belong to the group that are abandoning the corporate rat race in favour of their own career paths and want to be more affluent through that chosen way, the Authentics are similarly disillusioned but seek to withdraw from the rat race altogether seeking solace in alternative lifestyles to that of the urban type, the HERO's are High earner, Risk Open households who have the means now, but are willing to risk it all in search of adventure and in the pursuit of their dreams while the Contrasexuals consist, in the main, of late thirty some-thing women seeking to experiment with life, without ties and bondages of family life holding them down.

In essence, what we see are alternative lifestyles that value 'what can be' to 'what seem to be'. In exotic Sri Lanka we possess the right combination of tools to offer several solutions, for those seeking alternative lifestyles. We possess locations for escapists, for silent meditation, mind -body wellness through Ayurveda and an abundance of nature, culture and adventure.

It is time that we stopped shooting ourselves in the foot and get our act together. We need to begin riding this new wave of consumer demand that fit Sri Lanka's products and service offer so well. We also need to tread the course with much care and long term thinking, to provide a dignified and better quality of life for our own people.

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