Millennials – The greatest travellers of all time (Part 2)
This is the second part of my blog on Millennials, the individuals born between 1981 and 1996 and the biggest travelers of all generations. I hope you find it informative!
- Millennials are the world’s largest adult cohort, representing 23% of the global population. Their influence on the hospitality industry is obvious, as they have shown a propensity for travel and exploration. In 2019 alone, they spent a staggering $200 billion on travel, which is expected to increase by around 10% a year between now and 2025.
- Technology is an integral part of travel for this demographic, with two-thirds claiming to visit online websites every day to find activities.
- The majority of millennials say that the cost of travel is twice as important to them as other factors in planning their trips.
- Over 70% of millennials choose their travel experiences based on their passions rather than their destination, and believe that travel is at the heart of their identity and part of the way they express themselves.
A few years ago, MMGY Global found that 80% of millennials took one pleasure trip a year, and many of them took several. That’s 32% more than Generation X and 44% more than baby boomers.