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Generation Z’s rising impact on the travel and tourism sector
Generation Z’s rising impact on the travel and tourism sector
Monday, December 11, 2023
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The “Generation Z in Travel and Tourism – Thematic Intelligence” report has been newly included in the offerings of ResearchAndMarkets.com.
Currently, the world is witnessing an unprecedented shift in wealth and influence as the baby boomer generation retires and younger generations take the helm. Generation Z, often referred to as Gen Z, places a strong emphasis on work-life balance, diversity, inclusion, and personal development. This report takes an in-depth look at the distinctive characteristics of Gen Z and their profound impact on businesses operating within the travel and tourism sector. It delves into the specific areas where Gen Z plays a significant role and influences the travel and tourism industry, with a particular focus on travel intermediaries, lodging, and airlines. Furthermore, it examines the various players who are adapting their products and services to cater to the preferences of Gen Z.
This thematic research report offers a comprehensive exploration of the Generation Z theme and its implications for the travel and tourism field. It analyzes how this theme affects different players in the industry, explores contributing trends, identifies potential challenges, and highlights opportunities that have arisen due to the influence of Gen Z. The report also includes real-life case studies that showcase how destinations and companies have responded to the impact of this theme on their operations. Additionally, it provides recommendations for the travel sector and profiles various companies relevant to the discussion.
Key Highlights:
- Generation Z is often described as the most disruptive generation, as recognized by Bank of America, and its influence is growing at a time of significant uncertainty. Gen Z’s impact will extend across all sectors in the evolving global economy, including the travel and tourism industry.
- Gen Z’s use of social media is integral throughout their travel journey, from planning to experiencing and post-trip sharing. It is crucial for destination marketing organizations (DMOs) and travel companies to leverage social media, particularly Instagram, as it significantly influences how destinations are perceived and inspires travelers even before their trips. Instagram has evolved beyond a platform for sharing vacation photos to become a critical element in the booking process for Gen Z.
- Gen Z has distinct expectations and demands from the businesses they engage with, including a heightened focus on sustainability. This has prompted companies to address their environmental impact, a move they may have previously avoided. Given the experiential and personal nature of tourism, the industry is well-positioned to respond to the evolving demands of Gen Z, although sustained efforts are necessary to effectively connect with this nuanced demographic. The shift towards online platforms, from communication and social media to personalized experiences, is largely driven by Gen Z’s internet usage.
Report Scope:
- This thematic report provides an overview of how Generation Z is influencing the travel sector and explores the contributing factors.
- Several case studies are included to analyze how countries and companies are adapting to the growth of Gen Z and aligning their strategies with this generational theme.
- It examines current trends related to Generation Z within the travel industry and anticipates how these trends will escalate in the near future.
- The report assesses how travel and tourism companies, such as tour operators, online travel agencies (OTAs), and DMOs, are engaging with Generation Z to drive revenue.
- It emphasizes the importance of catering to Generation Z’s preferences by considering the social, cultural, and environmental effects on destinations.
- The analyst’s thematic research ecosystem serves as a comprehensive global research platform that facilitates the tracking of thematic trends across all companies and sectors. It has a proven track record of identifying significant themes early, enabling companies to make informed investments ahead of the competition and gain a competitive edge.
- Across the entire travel and tourism supply chain, there are opportunities to tap into the potential of Generation Z, as evidenced by notable examples. Consequently, this report is essential for gaining a thorough understanding of how this theme will continue to shape the future landscape of travel.
Key Topics Covered:
- Players
- Demographic Briefing
- Generational profiles – What defines Gen Z?
- The current state of the world’s population
- The current state of Gen Z
- Geographical Analysis
- Case studies
- Trends
- Business Impact
- Gen Z’s influence on the travel and tourism sector
- Challenges faced by the travel and tourism industry due to Gen Z
- Companies
- Public companies
- Private companies
- Sector Scorecards
The report mentions several companies, including but not limited to:
- Air France
- Airbnb
- Bidroom
- Booking Holdings
- Contiki
- Despegar
- EasyJet
- eDreams ODIGEO
- Etihad
- Expedia Group
- Flight Centre Travel Group
- G Adventures
- GetYourGuide
- Google
- Hays Travel
- Hilton
- Hostelworld
- IndiGo
- Intrepid Travel
- Jet2
- MakeMyTrip
- Marriott
- Norse Atlantic Airways
- Norwegian Cruise Line
- On The Beach Group
- OYO Rooms
- Qantas
- REI Adventures
- Ryanair
- Sawday’s Canopy & Stars
- Secret Escapes
- Seera
- TikTok
- Treebo
- Trip.com Group
- TripAdvisor
- TUI
- Tuniu
- W Hotels
- Wego
- YouTube
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