The transition to a “feel-good” society short of quality time has led to the emergence of "new luxury”, where the motive for consumption is no longer social differentiation, but personal well-being; in travel, sportswear, nutrition and beauty care, consumers are turning to top-quality products and services at above-average prices, according to a new study from Credit Suisse. Contained in the latest issue of Global Investor Focus, Credit Suisse looks at changing leisure habits and their impact on various sectors. The study examines demographic, regional, and sociological factors and how these will impact future lifestyles and use of free time. For investors, companies that embrace this trend in the leisure industry provide, so the bank believes, an “attractive and innovative investment opportunity”. The growing importance of the work/life balance and baby boomers reaching retirement age should become a long-term key driver of economic growth. The integration of new technologies into existing offerings will also boost the leisure industry. The emerging Asian markets, with China at the forefront, are particularly well positioned and are the driving force in entertainment electronics and communications. Nanotechnology will also lead the way in improving quality of life. Tourism remains a growth area in the leisure world of the future. Tour operators will profit principally from changing demographics, as more enjoy an active retirement. One of the main beneficiaries of this trend will be cruise operators.