70% of affluent millennials planning international travel over next year
Reaching Affluent Millennials is BBC World News’ award-winning study into the generation known as “Millennials” (16-34-year-olds).
BBC World Service presenter Ros Atkins, outlined the findings at WTM London in a roundtable session in which experts discussed the role brands have in the lives of AMs, what external factors influence their travel decisions, and what Affluent Millennials look for when it comes to travel and travel-based marketing.
The global web index estimates there are over 940 million millennials, and in defining “affluent”, the BBC took the top 25% of incomes of each of the countries taken on. 21.5 million Affluent Millennials across eight countries surveyed (Australia, USA, France, Germany, South Africa, Singapore, Hong Kong and Canada) are planning to take an international trip this year. They are 18% more likely to travel for leisure multiple times per year than Gen X or Baby Boomers. The study found that two thirds of Affluent Millennials went on an international holiday last year, and 70% are planning a trip for the next year. Furthermore, Affluent Millennials are 92% more likely to stay at a premium hotel than their non-affluent counterparts. The study sought to find out what is distinct about this generation when it comes to relationships with brands, media and advertising.
“These are heavy leisure travellers”, says Atkins. “These are people who want to move and have quite specific requirements from holidays, and they are definitely not the same as the requirements of Generation X or the Baby Boomers.
The USA tops destinations sought after by European AMs over the next year, followed by Spain, UK, Germany and Greece.
Haitham Mattar, CEO, Ras Al Khaimah Tourism Development Authority spoke at the conference of a similar survey conducted by his government: “There is a great deal of individualism. They want everything to be specific to them. They are looking for luxury indulgence. What is the luxury hotel going to deliver in terms of experience that they can take away?”
Anthony Berklich, Founder of Inspired Citizen added, “They have big egos; they want to show off a little bit, so creating experiences that are individual and tailored to them makes them feel special and speaks to the fact they want to share the experience on social media with their friends and family. But you also have to speak to their heart”.
THESE ARE PEOPLE WHO WANT TO MOVE AND HAVE QUITE SPECIFIC REQUIREMENTS FROM HOLIDAYS
Photo: Ros Atkins, BBC World Service presenter.