Travel and tourism for the Millennial generation

QUICK RESOURCES:

Looking for some quick resources on Millennials and travel? Try these:

How to get on the Millennial Map (and Stay There)

A free guide published by Toposophy (to which I am an associate Putting Your Place on the Millennials Mapconsultant), packed full of practical advice on product development and marketing ideas for engaging with Millennials

Making the travel industry Millennial-proofI explain how not all Millennials are the same, and how the travel industry urgently needs to become ‘Millennial- proof’

Resources on Millennials in the Asian outbound markets

Two major studies that I have carried out for the Pacific Asia Travel Association:

LGBT travel and Millennials

How to Make LGBT Travel Matter to Millennials

The issue of sexuality is increasingly becoming a non-issue for Millennials around the world, so what does that mean for the future of the LGBT travel industry? How can businesses in this multi-million dollar industry keep their products and marketing approach fresh and relevant for LGBT Millennial travellers? See my latest post and presentation from the 33rd IGLTA Annual Global Convention.

A closer look at Millennials and global travel:

For an industry that’s as fast-moving and competitive as the global travel and tourism industry, it’s logical to look ahead; to seek opportunities to launch new products that appeal to new groups of consumers. The race is now on for major travel and tourism brands around the globe to understand the next generation of business travellers, honeymooners, family travellers and all the other adult consumers, who will, in the next two decades, be the main consumers of a whole variety of travel products and services.

Getting aheadMillennials are driving enormous change in the travel industry. To properly understand how Millennials are doing this, you have to get into the ‘Millennial mindset’, by considering the events that have affected them, their values and their consumer choices outside the travel industry. It’s also important to remember that Millennials in different parts of the world are going through different experiences; there are some things that unite them, and others that cause them to behave differently when they travel. Therefore, I believe that it’s essential to take a step back and look at Millennials as consumers, their life choices, their experiences .

Who are Millennials?

This generation is commonly known as ‘Gen Y’ or ‘Millennials’; those born between approximately 1978 and 1999 and who entered their teenage years after the Millennium (2000). Because of the unique way in which they are consuming travel products and services and connecting with other travellers, this generation makes up the largest part of ‘Gen C’.

Different authors have defined the Millennial generation in different ways and it’s worth becoming familiar with this discussion here.

A generation that’s changing the rules of the game

One thing is for certain, and that is that the Millennial a generation comfortable with disrupting the norm. Being the first generation to have grown up in the era of ‘internet everywhere’, Millennials are highly connected, technologically advanced and globally conscious and far more open to trying out new products and concepts than their parents or grandparents ever were.

This is partly why the sharing economy – a phenomenon which is tearing up the rule book for traditional tourism providers in particular – is flourishing as Millennial consumers flock to benefit from the value and convenience it offers for accessing a whole range of products and services.

Understanding the Millennial mind-set

The young people belonging to this generation have grown up during turbulent times; times which have sparked deep fear and soaring optimism in equal measure but have had a strong influence on shaping their values and attitudes as consumers. Understanding the Millennial mind-set in different parts of the world (because of course, not all Millennials think alike) is therefore essential if we want to understand why Millennials consume the products they do; and why they are changing the rules of the game in so many different sectors of the global economy.

I invite you to continue exploring my site, and to sign up to receive my latest posts to receive all the latest insights you need on Millennial travel behaviour.

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