Ferrari’s Next Generation: 40% Of New Buyers Are Under 40

by THEFUTURE.TEAM

March 17, 2025

Ferrari is no longer just a dream for seasoned collectors—it’s becoming a status symbol for a younger, affluent audience. CEO Benedetto Vigna revealed that 40% of the luxury automaker’s new buyers are now under 40, a sharp rise from 30% just 18 months ago.

Speaking at CONVERGE LIVE in Singapore, Vigna credited this shift to Ferrari’s evolving appeal and its strategic focus on maintaining exclusivity. Despite growing demand, the Maranello-based company continues to limit production, ensuring its cars remain as coveted as ever.

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Exclusivity Drives Desire

Ferrari’s approach to scarcity has long been a hallmark of the brand. Founder Enzo Ferrari famously declared, “We will always deliver one less car than the market demands.” Today, that philosophy remains intact—three-quarters of Ferrari’s sales still go to existing customers.

Vigna shared anecdotes illustrating the anticipation Ferrari buyers face. One 78-year-old client, eager to secure his Ferrari, lamented the two-year wait time. Meanwhile, a younger buyer, 37, wanted to ensure he received his car before turning 40. Vigna’s response? “Don’t worry, you’ll get it when you’re 39.”

The Future Is Electric

Looking ahead, Ferrari is set to make history with the launch of its first fully electric vehicle on October 9. This EV will be one of six new models debuting this year, reinforcing Ferrari’s commitment to offering a mix of combustion, hybrid, and fully electric cars.

While some loyal customers remain hesitant about an electric Ferrari, others see it as the only option. “We’re proud of this decision,” Vigna stated, emphasizing the company’s confidence in its three-tiered approach to the future of performance cars.

Ferrari’s ability to blend tradition with innovation is resonating with a new generation. And as younger buyers continue to flock to the brand, its legendary status is only set to grow.

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EU Adopts New Package Travel Rules With 14-Day Refund Requirement

by THEFUTURE.TEAM

April 3, 2026

The Council of the European Union adopted updated rules on package travel, introducing stricter requirements for refunds, transparency and consumer protection across member states. Updated provisions revise the existing directive and define obligations for travel providers offering bundled services such as flights, accommodation and transfers.

Clarifying The Package Travel Directive

The updated directive clarifies the definition of package travel and excludes certain linked travel arrangements from its scope. Coverage applies to services sold as a single product, including combinations of transport, accommodation and additional services. This revision standardizes how travel products are classified and clarifies rights and obligations for both providers and consumers at the point of purchase.

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Enhancing Transparency And Consumer Rights

New rules require providers to disclose key information before and during travel, including payment terms, visa requirements, accessibility conditions and cancellation policies. These disclosures aim to reduce disputes and improve consumer awareness. Defined refund timelines include a 14-day period for cancellations due to extraordinary circumstances and up to six months in cases of organiser insolvency. The measures address gaps identified in earlier versions of the directive.

Ensuring Accountability And Trust In Travel Services

Organisers must implement complaint-handling systems and provide clear information on insolvency protection under the updated framework. These provisions aim to improve accountability across the travel sector. Previous disruptions, including the collapse of Thomas Cook and travel restrictions during COVID-19, exposed weaknesses in refund processes and consumer protection. Updated rules respond to those issues.

Implications For Cyprus And The Broader Industry

Tourism accounts for approximately 14% of Cyprus’s GDP, with package travel playing a central role in visitor flows. Major operators such as TUI and Jet2 provide structured travel offerings that support demand. Such operators contribute to revenue stability and help extend the tourism season by securing transport and accommodation in advance. Greater regulatory clarity may support continued sector growth.

A Model For Future Consumer Protection

Clearer rules on vouchers, refunds and insolvency protection now apply across the European Union. These measures aim to reduce consumer risk in cross-border travel. Implementation across member states will determine the impact on both consumers and travel providers. The framework may influence future regulatory approaches in the sector.

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