FERRY + HOTEL
Millennials represent the largest generation to date, making up 31.5% of the world's population at 7.7 billion, according to Bloomberg. This generation have an estimated $200 billion of spending power, certainly a compelling financial reason to pay attention to them for travel companies.
As you'll see from the data below, they are reshaping how business and leisure travel works by focusing on experiences and culture, solo travel, planning their own itineraries, ignoring cheap stock content and drawing their decision and influence from social media or user-generated content. What's more, all of these new millennial travel trends are done directly on their smartphone, from research to booking.
Between 2020-2023, Millennials spent $4141 on average per trip.
Only 26% of millennials thought it wasn't safe to travel through the pandemic, compared to 41% of baby boomers.
Millennials were 71% more likely to make more or the same amount of travel plans in 2022 compared to baby boomers, than pre-pandemic.
The Covid-19 vaccine made travel feel safer for 77 % of Millennials in 2022.
Millennials made up 45% of Airbnb's customers in 2022.
82% of millennials say they want to go on a vacation that has a minimal impact on the environment in 2023.
18% of millennial travelers have taken 3+ domestic flights in the past year, compared to 10% of Gen Xers and 6% of baby boomers.
Millennials spent $200 billion on travel in 2018, 33% plan a spending budget of $5000+ on their vacations.
66% of millennial travelers book their trip using a smartphone. 74% use it to research.
82% of millennials traveled last year, compared with 75% of all other generations.
61% of millennial travelers prioritize trips that focus on personal wellness.
Millennials took 5.6 trips per year, compared with 4.4 (Gen-Z), 4.0 (Gen x) and 3.5 (Boomers).
Experience economy: 70% of Millennials say they have been inspired to visit a destination after seeing it featured in a TV show, news source, or movie.
47% of Millennials say they have planned an entire trip around visiting a specific restaurant.
46% of Millennials travel to explore a place they've seen on Instagram.
97% will share travel experiences on social media, with 2 in 3 posting once a day.
58% of millennials stated they would solo travel, and 26% already have.
44% of millennials with children have traveled together, of which 62% did so with children under five years old.
There is little data on the specific global destination volumes for this age group, only trends which we show below. When looking at the information on a global scale, Wikipedia shows the order of popular travel destinations for every generation in order from 1-10 being: France, Spain, United States, China, Italy, Turkey, Mexico, Germany, Thailand, and United Kingdom.
According to the Independent, these are trending millennial travel destinations listed below:
Top 10 Millennial Travel Destinations
Top 10 Millennial Travel Destinations
The no.1 destination Millennials want to visit if they could go anywhere in the world is France .
City breaks have soared by 82% since 2004, now 22% of all global holidays.
70% of millennials say they have been inspired to visit a destination after seeing it featured in a TV show, news source, or movie.
49% of millennial travelers were expected to travel internationally during the first 6 months of 2022.
47% of millennials say they have planned an entire trip around visiting a specific restaurant.
45% of millennials say they have planned a trip around attending a food festival.
40% like to visit a resort with a beach in the next 12 months.
38% plan to visit a metropolitan city in the next 12 months.
67% of millennial travelers said they'd like to go on a once-in-a-lifetime vacation in 2022.
Leisure travel in the US is very different. Millennial travelers favorite travel destinations are typically 79% domestic. However, 1 in 3 are planning international vacations in the next two years.
USA: Yearly, 51% of millennials expect to travel to both domestic and international destinations, 42% plan to only travel domestic, and 7% international only.
USA: 79% of millennial travel was domestic only in the US
USA: In 24 months, 33% are planning international trips.
US Millennials spent $200 billion on travel in 2018.
33% plan a spending budget of $5000+ on their vacations.
Looking for the best deal is important to 92% of US Millennials.
Millennials travel more than any other generation, with an average of 35 days per year.
18% of millennials have taken 3+ domestic flights in the past year, compared to 10% of Gen Xers and 6% of baby boomers.
68% of millennials said they would consider splurging on a huge trip in 2022.
By 2030, Millennials are expected to have an annual income of more than $4 trillion altogether.
Millennial consumer spending over the next 10 years will be powered by Asia. Particularly, lower middle classes from India, Indonesia, and China - with a market share worth $20 trillion.
72% want to spend on travel experiences rather than physical possessions next year.
Millennials who travelled as a family spent $50.4 billion in 2016.
55% want to increase the volume of trips next year.
On average, excluding airfare, US millennials spent $1,373 on summer vacations.
46% of millennials spend on business flights, compared to Gen x 34%, Boomers 16%, Silent 1%.
Millennials are the most likely age group to transcend into debt for travel.
Average expenditure per trip 2020-2023
(From travel insurance policies sold for trips departing between 2020 to 2023).
In 2018, US Millennials spent $200 billion on travel, 55% wanted to increase the volume of trips and almost 3 in 4 wanted to increase their spend on leisure travel experiences, rather than physical products - this is a good enough reason to pay attention to marketing towards that generation. In fact, Boston Consulting Group's research found that millennial business travel spending is projected to grow to nearly 50% of the whole business flight market in 2020. More data shows that the general travel trend of this generation is increasing as they are booking more trips, we can expect to see millennials spending more money on travel in the future.
Millennials travel statistics also show that 33% of their travel spending budgets are typically around $5000+ a year. Even though they take more trips per year, they're not the biggest spenders by far, with $1,373 being the average summer vacation budget minus airfares. Baby Boomers will spend $1,865, and Generation X will spend $2,628 on their summer vacation.
According to the latest millennial travel statistics, Millennials' number one reason for travel is seeing friends and family. This generation has also moved away from being a stereotypical tourist. Data shows that 86% of millennials travel for experience and culture, immersing themselves into their destination, staying clear of tourist traps – 60% ranks authentic culture as the essential part of their trip, 78% wanted their visit to be educational.
86% of millennials chose new culture over 44% who wanted to party and 28% want to shop as their reason for travelling.
A 2022 survey showed most millennials travel to see family and friends.
Second to that, Millennials travel for a mental health boost, followed by visiting new U.S. Cities, international trips, cheap deals, and fulfilling bucket list items.
61% of Millennials prioritize trips that focus on personal wellness and staying in hotels with spas and wellness services.
79% of Gen-Z and Millennials would love to partake in a day in the life of locals in the destination they are visiting.
82% of Millennials say they want to go on a vacation that has a minimal impact on the environment in 2023, compared to 72% of Gen X and 64% of boomers
86% of Millennials want to shop at small businesses when they travel to a new location.
60% ranked authentic culture as the most vital part of the entire travel experience.
78% want their travel to be educational and learn something.
Compared to other generations, millennials are 13% more likely to seek travel destinations with historical or cultural importance.
Compared to other generations, thrill chasing millennials are twice as likely to do something dangerous for excitement.
62% are likely to lengthen their business trips on the pursuit of culture.
Itinerary creation through online travel agents has seen a decline from 50% to 25% in two years, and more millennials plan their own trips.
If travel destinations want to capture part of this generation's $200 billion a year travel market, they will have to enhance their experiential offering. Now, these destinations need to thrive with cultural experiences like music festivals, nightlife and dance parties, food, and art to increase the volume of millennials who like to travel.
This adventure-seeking doesn’t stop with activities. This generation also wants to heighten their experience with planning their own trips. Online travel agents reported a decline in this age group using itinerary services from 50% to 25%. Furthermore, they’re slowly ditching hotels to use direct person-to-person accommodation via sites like Airbnb.
Why do millennials tend to travel so much? Mostly because this generation has fewer responsibilities, such as having families. They take more short breaks, and 62% extend business travel to experience culture.
58% of millennials stated they would solo travel, and 26% already have.
1 in 4 travellers said they were planning to travel alone in the next 6 months, with millennials and Gen Z most likely to travel solo.
26% of millennial women have done solo travel, 27% of millennial respondents haven’t but would consider it.
40% of travellers will take a holiday with friends in the next 12 months.
58% favour travelling with friends, compared to other generations at 38%.
44% of millennials with children have gone together, of which 62% did so with children under five years old.
49% regularly take last-minute trips, 69% of which regret not taking last-minute vacations.
75% want to increase the amount they travel abroad, compared to other generations at 52%
69% had more trips over weekends, compared to different generations at 13%.
Millennial travel stats in this roundup, particularly in the experience economy section, show that this generation’s travel is different. With social media being a pivotal influence, today’s top millennial travellers and travel habits show a thirst for learning, experience, culture, and knowledge - they want to satisfy their wanderlust, and over 58% have no problem doing it solo.
87% use Facebook to inspire their booking, and over 50% used Pinterest or Twitter.
46% of Millennials travel to explore a place they've seen on Instagram.
61% of Millennials travel to see places that "look great" in photos/videos.
97% will share travel experiences on social media, with 2 in 3 posting once a day while away.
40% of internationally traveling millennials confess they want to create an idealized version of themselves on social media.
79% took friends advice on destinations and booked based on those recommendations.
84% are influenced to book of user-generated content (reviews, forums, comments).
Born between the 1980s and 2000s, this generation grew up relying on social media to record their day-to-day lives, with the internet playing a pivotal role in decision-making.
As you’ll see from the millennials travel statistics above, 87% use it to inspire their booking options, making social media a key driver for travel research and decision-making. 97% will post about their holiday on a day-to-day basis, influencing their friends of vacation choices when selecting their own trips.
Forward-thinking destinations and resorts have started introducing ‘Selfie Stations’ – an innovative method of building ‘sharable experiences‘ encouraging people to take photos and upload them tagging the location This is an excellent way for getting seamless social exposure without requesting and coming across desperate and intrusive.
66% of millennial travellers book their travel using a smartphone.
74% use their smartphone to research their holiday or trip.
75% have installed travel apps on their smartphone, compared with other generations at 47%.
86% are disappointed by the experience online travel agents provide on a mobile device.
If you haven’t already guessed it, when it comes to researching, planning, booking, and recording a millennials trip, the smartphone is the center of it all. In a generation that grew up with mobile phones, two in three book their travel on their phone, almost three in four use it to research and have specific travel apps installed.
Technology changes the way we check-in and out of hotels, flights as well as navigating us around a foreign location, booking restaurants and experiences in our itinerary - reshaping travel and shopping habits abroad for younger generations.
55% go to relax from ordinary life, 50% take trips to visit people, 45% to spend time with family, and 34% travel for a romantic getaway.
34% of young millennials travel to experience more from life, 23% to befriend other travelers.
25% of millennial families plan to go international with their vacations.
72% have set a target for a dream holiday sometime in their future.
When examining and surveying this generation, there was a clear pattern in booking that can be identified by three core drivers: activities, destination, and trip length.
A study by New Horizons back in 2017 found that the more activities and experiences that are packed into a trip increased happiness, this hits a peak on trips lasting one month or more. Travel destinations that brought the most joy involved locations like Indonesia, Mexico, Japan, and Peru.
Why millennials should travel: Industry insights show that going away for a long time in a different part of the world leads to higher levels of happiness among those surveyed. In general, anyone traveling outside of their local region is happier than people staying in close vicinity to their home.
Millennial travellers booking preferences: 57% of online travel agents, 36% of hotel websites, 32% of airline sites.
61% of query travel providers, agents, and opinion sites throughout the research phase of booking.
50% use social networks, friends, and family to consult their travel options.
85% will check more than one site for exclusive deals before confirming their booking.
23% chose online travel agents by user-friendly design and security over price.
13% think using online travel agents isn’t as safe as booking direct.
52% use review websites, travel forums, and blogs to research and validate potential options
As detailed in our experience economy section, travel desires have shifted from physical activities to emotion or feeling related experiences for this generation. This has resulted in our subject audience, turning to those who’ve done it and can validate their booking choices.
Over 50% of all consumers surveyed use social media, review sites, friends, and family to consult on their booking choices in the travel research stage.
Do millennial travellers use travel agents? Growing up in an era of Kayak, Expedia and Booking.com make travel agents seem like an archaic approach, but the industry is still thriving. When it comes to millennials and travel agents, 61% turned to both online and offline providers to help plan their culture and experience centered vacations.
58% favour hotels with full service.
Millennial travellers made up 45% of Airbnb’s customers in 2022.
35% will seek premium hotels and resorts for an upmarket experience.
2 in 5 millennials admit the hotel and travel images on social media influence their booking.
41% joined a loyalty program through the ease of use, 68% will stick with programs that offer the best rewards.
Hotel loyalty schemes are at an all-time high, 75% stuck with their brand even if points expired.
Major hotel chains have been putting a big focus on their reward or loyalty schemes to entice young travelers into booking direct. As mentioned in our spending statistics, millennial business travel spending is projected to grow to nearly 50% of the whole business flight market in 2020 – capturing these customers can keep them coming back to spend points on their bookings as well.
Using online travel agents can get hotels their first booking quickly, but a robust loyalty scheme will get the repeat bookings for the hotel and maximize the margins for that business. If consumers are happy with the programs, word of mouth can generate even more bookings with colleagues, friends, and family.
Hotels can also benefit off embracing spontaneity. Limited time discounts, one night only deals and flash sales can draw in new business through the millennial travellers spontaneous nature.
68% want a service that will let them split the cost of their travel with others on the booking.
50% of travelers rate customer service via instant messaging above face-to-face.
2 in 3 would like a service that will suggest holidays based firstly on their personality, then budget.
16% would disclose personal data in exchange for discounts, but 57% would if the service provided personalised holidays, tips, and advice.
60% plan to purchase extras to upgrade their experience
36% approved of automated check-ins, compared to a lower 19% from other generations
When looking to develop new technologies for the younger generations, here are some key millennial marketing statistical takeaways surrounding their desires:
55% of Millennials say they spend more time planning for vacations than for their retirement.
The US travel market grew by 5% in 2018, by 2022 total gross bookings will have risen to $ 441 billion.
34% bookings were made with OTAs, 66% were made through supplier websites & mobile apps.
90% of those taking a Guernsey holiday are from three countries; 70% from the UK, 11% from Jersey and 8% from France.
More than 110 cruise liners stop in Guernsey each year.
80% prefer mobile booking to get the information they require.
72% of mobile bookings made by travelers happened within a 48-hour window prior to booking.
90% of travelers use apps for maps, airlines, weather and social media when traveling.
72% of those taking a holiday to Jersey in 2017 stayed in hotels. Around one in ten persons stayed in in self-catering accommodation.
55% of travelers are making more sustainable travel decisions compared with last year.
73% of global travelers aim to stay in eco-friendly accommodation when traveling next year.
70% of travelers would be more inclined to book accommodation if it was eco-friendly.
Over 60% would consider a last-minute impulse trip based on a hotel or flight deal.
In 2017 $ 1.036 billion USD was spent on travel.
$ 718.4 billion USD is from leisure travel in 2017.
$ 317.2 billion is from business travel in 2017.
American's spend $ 101.1 billion USD on summer travel.
Americans spend an average of $ 1,978 on summer trips.
American's spend on average $ 6,080 on an international trip.
2.7% of the US GDP is attributed to travel and tourism.
Travel is the second most popular choice for optional spending.
36% of travelers view travel as a priority when spending.