If you have been in the travel business for a good while, throw out what you know are norms for travellers because the new Millennial travelling community has set its own barometers.
One of the key findings in TripAdvisor’s most recent annual TripBarometer study shows a significant gap in spending habits between the older and younger generations as well as how they choose destinations and accommodation.
The survey, conducted by an independent research firm in partnership with TripAdvisor, collected 23,000 responses from TripAdvisor travellers across 33 markets worldwide.
Some of the key findings include:
• Baby boomers spend over twice as much on accommodation (S$1,540) than Millennials ($675); both are just as willing to pay a little more for luxury.
• Over half of travellers choose to stay in a hotel versus 7% for accommodation arranged through home-sharing websites.
• Asian travellers are most interested in hotel brands they trust, U.K. travellers the least interested in brands.
• On average, travellers spend more on cruises than safaris.
“Travellers are in general getting more sophisticated; they are more interested in experiencing the cultural enrichment of a destination over the weather,” said Janice Lee Fang, communications director of TripAdvisor in Asia Pacific.
The 25 – 34 age group is more likely to be attracted to a great deal, with 16% being prompted to think about their trip because of a bargain. This, however, becomes less a decision marker as travellers get older; only 9% of the 65+ age group say they will be tempted by a deal.
Younger people are also more open to different ideas of where to go. Some 46% of those surveyed said they would have decided on a destination before they start their research; for the 65+ age group, 70% of them would have already decided where to go.
Attractions appeal to Millennials, with almost half (49%) pre-booking things to do before embarking on their trip. Baby boomers are less likely to book in advance with just over one third (35%) pre-booking attractions.
Culture is an important appeal factor when it comes to choosing a destination. One third (34%) say they would choose their destination to experience the culture, society and people, compared to one fifth (20%) of travellers who are seeking good weather.
City destinations are still favoured, with nearly one in three travellers (30%) taking city breaks, and this is even more popular among millennials (42%).
Despite the hype around the home-sharing economy, this survey shows travellers remain fairly traditional with their choices, with 53% of those surveyed saying they would choose to stay in a hotel , with 10% in a resort, 8% in a holiday rental or apartment, and 7% of them through home-sharing websites.
Asian travellers, particularly those from China, still value brands for hotels – 82% of Chinese travellers say it is important to stay in a hotel with a reputed and familiar brand. British travellers are least interested (22%) in hotel brands. In terms of demographics, families are likely to choose a branded hotel (44%) they trust compared to other traveller groups.
Cruises topped the charts as most expensive holidays at an average cost of S$5,442 per person, even more than safaris ($4,626). The cheapest kind of trips were those taken to visit family or friends ($3,017).
Featured photo credit: d3sign/gettyimages
