As America focuses on its millennium generation, Europe trails behind the baby-boomers
Demographics go a long way in explaining the difference between media strategies in the US and in Europe. As the US ad-men and media companies bend backwards to reach a booming millennium generation who don't watch TV or read newspapers, the European media are still chasing the aging baby boomers through all the conventional channels. The impact of the demographic divide between the US and Europe will be tremendous according to the Scotsman. Even though Europe hopes to maintain itself as a knowledge economy, it will lose ground on product innovation because Europe lacks the appropriate market. In America the population is expanding whereas Europe is suffering from low birth rates. By 2014, the number of retirees above 65 years old will exceed the numbers of youngsters. According to the Scotsman, the effects of this growing divide between the US and Europe will be disastrous for the European economy. The Old World will loose its privileged position as a pole for research and innovation. Today Europe boasts it is a knowledge economy, but it will not be able to keep this characteristic if it lacks a young market which will boost innovation. For instance, Europe is second in developing digital products. R and D companies will increasingly migrate to younger countries in Asia or America.
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