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Millennial Traveler Insights: Understanding the motivations and behaviors of millennial tourists

Millennial Traveler Insights: Understanding the motivations and behaviors of millennial tourists

  • February 2018
  • 21 pages
  • ID: 5336524
In this report:
They are expected to account for ##% of the total income generated by business class flights by 2020.
According to GlobalData's consumer survey Q## 2016, ##% of Indian millennial travelers prefer to book online, compared to ##% who look for offline services.
According to the Portrait of American Travelers survey, in the US Millennial families plan to spend ##% more on holidays in the next ## months (from July 2017) and plan to travel ##% more than the previous year.

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Millennial Traveler Insights: Understanding the motivations and behaviors of millennial tourists

Brief

GlobalData's "Millennial Traveler Insights", report offers insight into understanding the motivations and behaviors of millennial tourists. It affords profile and demographic preferences of millennial travelers. The report shades light into future prospects and provides actionable insights.

Globally, millennial travelers constitute around one-fifth of worldwide tourists and generated annual tourism revenue of $180.0B in 2016, grew at a compound annual growth rate (CAGR) of 30.0 percent during 2007-2016. About three-fifths of the world's millennials are from Asia area and out of this cohort, 33.0 percent are from India (IN) or China (CN). In the U.S., the world's second-largest source market for worldwide travel, millennials account for more than 50.0 percent of the global workforce.

Overview

- Millennials are tech-centric, and digital technology profoundly influences them. Millennials prefer to live in a connected world filled with digital media because it is convenient, secure, user-friendly and cheaper, and when it comes to travel, digital technology plays the most meaningful role.

- 55.0 percent of millennial travelers were keen to extend their business trip in the interests of a leisure trip. The increasing proportion of millennials in workforce will continue to support the growth of bleisure trips.

- Millennial travelers are a lucrative segment of because of their spending potential. Firms need to influence millennials' perceptions and connect them with their brands by understanding their unique travel habits and preferences.

- Established on their travel experiences, the majority of millennials promote their brand preferences on behalf of brands by sharing on social media or through peer reviews.

- Having grown up in the internet era, social media and smartphone use benefits millennial travelers access readily available online resources, making them more self-empowered and helping them to better understand and experience a country's authentic culture.

Great reasons to purchase

- Take tactical business decisions by understanding the motivations and behaviors of millennial tourists

- Gain tactical insights on the millennial travelers market

- The market research gives the reader a clear understanding and actionable insight into where there are future opportunities.

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