Millennials and Gen Zs up travel budgets for more shared experiences
24/01/2024 by Arvindh Yuvaraj

Social media is a primary source of travel inspiration, with over 80% basing their travel bookings on recommendations from non-celebrity figures

Klook’s latest Travel Pulse research reveals that 3 in 5 travelers are allocating up to half of their budget to create meaningful connections while exploring the world, despite the challenges posed by global inflation. Calling it a shift in ‘love language’, Klook’s research says that in 2024, Millennials and Gen Zs in the Asia Pacific region are choosing to spend quality time with family and loved ones through shared travel experiences. 

According to Eric Gnock Fah, Klook COO and Co-Founder, these trends signify a post-pandemic world where the desire for genuine connections has intensified. Travel serves as a platform for shared experiences that offer a chance to connect with loved ones while exploring the world.

The research indicates that 64% of Millennials and Gen Zs are increasing their travel budgets in 2024, with almost half willing to invest up to 50% or more on experiences. Meaningful connections with companions top the priority list, with 69% booking activities before taking flight. Nature and outdoor adventures lead at 59%, followed by theme parks (53%) and the cultural richness of museums and historical sites (51%).

 

 

Breaking away from pandemic-induced habits of solitude, 9 out of 10 APAC travelers expressed a strong desire to pursue trips with loved ones. Partners (30%), family (26%), and friends (21%) are the preferred companions, with Millennials favouring partner travel and Gen Zs opting for group adventures. 

Klook’s Travel Pulse research also revealed that shared adventures are increasingly pursued through more frequent, shorter holidays, with 70% of travellers in APAC eyeing new destinations like Japan, South Korea, Thailand, and Singapore.

The research also highlights that for 96% of travellers, posting on social media is not just documentation but a means of sharing experiences with others. Instagram (77%) and YouTube (77%) lead as primary sources of travel inspiration, with over 80% basing their travel bookings on recommendations from non-celebrity figures, reflecting a shift in trust dynamics and a growing trend towards authentic, no-frills and relatable content.

Klook’s research also shows that the seasons play a significant role in shared travel experiences, with Spring emerging as the favored season for 65% of travellers in APAC. Preferences diverge across countries, with Malaysia and Indonesia favoring Spring, while Australia and the Philippines opt for Summer. 

Taiwan and Korea appreciate the vibrant hues of Autumn, and Winter captivates travellers from India, Thailand, and Singapore.

 

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