They found that over half of all millennial and Gen Z travelers from America, the United Kingdom, and Australia had taken one to two leisure trips in the last year over half of Chinese and Indian travelers had taken three or more leisure trips. Skift conducted a study comparing the travel trends of both millennials and Generation Z, as well as comparing between the countries of the United States, the United Kingdom, Australia, China, and India. Millennials and Generation Z are on the move, and they want to experience new things-or traditional things in a unique way Let’s take a look at some interesting facts about these two generations and what it means for your business. Thankfully, these travelers are on the hunt for experiences like the ones you offer. If you’re not optimizing your business to win over these younger consumers, you’re missing out on a huge potential chunk of revenue. This represents a seismic shift in the traditional ways experience operators think about their audiences. 78% of millennials said they would prefer to spend money on an experience over buying something desirable, according to an Eventbrite and Harris Interactive report. Compared to other generations, they value doing something, rather than owning something.
Millennials and Gen Z value travel immensely, and are constantly seeking out new travel experiences. The travel industry is of course no different than any other industry being impacted by this generational shift. Their spending habits and preferences are shaping the world as we know it. That means over half of the world fit into these two generations. It’s estimated that millennials represent 31.5% of the world population and Gen Z now makes up 32%.
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