Tuesday, October 30, 2018
Almost half of all the international luxury trips are been made by Millennials. They love going to the city trips and are willing to spend on travelling as per the World Travel Monitor®, conducted by IPK International and commissioned by ITB Berlin. This report analyses the travel behaviour of the Millennials.
Millennials are people born between 1980 and 2000. They are technology-savvy, and highly educated. International luxury rips are defined as trips with an expenditure of more than 750 Euros per night on short trips or more than 500 Euros per night on long trips.
Outbound trips of Millennials grew by 15 per cent in 2017, as against the previous year. Millennials constitute about 40 per cent of all the worldwide outbound trips, and thus they are the largest age group for international travel.
Millennials are aged between 18 and 38 years. While some of them are about to leave school, some others who are on the other end of the age spectrum have a stable income.
As Millennials start earning they have more disposable money and can allocate a sizeable chunk for travelling.
The U.S., China, Great Britain, and Germany combined, constitute 35 per cent of the total market share of millennial outbound travellers. The destinations Japan, South Korea, India, Australia and Europe especially Ireland and the Scandinavian get above average share of millennial visitors
According to the World Travel Monitor® data, Millennials are more educated than the average outbound traveller. There are more female travellers than male travellers in the outbound market.
Millennials prefer city trips and they travel for holidays more than for business purposes. The second most important holiday type preferred by Millennials is the Sun & Beach holiday. Millennials prefer authentic experiences and avoid places having terror warnings.
Millennials use travel blogs, travel forums, and social media channels frequently as compared to traditional information channels such as travel agencies, print media and TV.
The final results of the World Travel Monitor®, and the latest forecasts for 2019 will be presented by Rolf Freitag, CEO of IPK International, at the ITB Future Day during the ITB Berlin Convention.
The World Travel Monitor® is based on representative interviews with more than 500,000 people across 60 and above travel markets worldwide. They have been regularly conducted for more than 20 years. It is recognised as the largest continuous study into global travel patterns.
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