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Dear Quantumrun team, great article and I like the projection on long distance travel and demographics. I grew up in Liverpool and my house was behind Strawberry Fields, which featured on one of the Beatles songs. In the late 1980's the streets would be thronged with Japanese tourists that would visit and take their photos outside the famous red gates. I subsequently lived in Japan and in my experience in connection with International travel, whilst demographics of course plays a part, a massively old population travel less, the decision to do so is more about disposable spend and in turn consumer confidence. In the countries listed above (including China), they have all reduced and I think that might be as much a factor also.

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