analysis
Tomorrow’s travellers
and traditionalists – John Fitzsimons busts some myths around millennial travellers
From tight budgeters to carefree spenders, disrupters A
generational shiſt is underway. Millennials — generally understood to mean those born between the early
1980s and early 2000s (broadly speaking, those currently aged 16 to 35). At present, this group accounts for roughly a quarter of the UK’s population; by 2019, there will be 17 million adults aged 16 to 35 in the UK. Differences between this generation and those that have come before it are already becoming clear, so how do agents adapt to appeal to these travellers of tomorrow?
MONEY’S TOO TIGHT TO MENTION The economic events of the past decade have had a negative impact on millennials’ disposable income, and consequently how they choose to spend their money. Aſter all, this is the first generation to have been subject to university tuition fees, meaning a significant proportion of those who entered higher education are likely to have leſt with substantial debts. Entering the job market following the financial crash is also likely to have heightened their appreciation of the pound in their pocket. For younger millennials, budgets are small,
although there’s oſten some parental help — the bank of mum and dad is of key importance. Their help may stretch beyond financial maters, too. Casey Mead, PR and communications manager at G Adventures, says this group are “hand-held” by their parents more than previous generations. “You’ll oſten find millennials coming in with their
parents, wanting to make sure they’ll be safe and secure on their travels,” she says. Donna Jeavons, sales and marketing director,
UK & Europe at Contiki, points out the prospect of significant university debt has led to many younger travellers opting to combine travel and work (the so-called wap year) before going to university; their assumption being they won’t be able to afford to do so aſter graduation. What’s more, with house price growth
showing no sign of abating, many millennials are remaining in the rental market. According to last year’s How We Travel report from Airbnb, this means they’re increasingly likely to prioritise travel over saving to get onto the housing ladder, viewing the chance to see the world as an alternative investment in themselves. However, those older millennials aren’t as
loose with their money as some would have us believe, Jeavons says. “Young professionals have a bit more money to play with, but they’re still looking for value — it’s not about the cheapest deal, but more about finding good value for money. They’re less flippant with their spending. Millennials get a bad rap about money, but in reality they’re a lot more responsible than people think.” Even the way millennials pay for travel may be
about to change. Travel-booking website Sploor offers the chance to spread payments for trips across three to six months, on an interest-free basis; all that has to be paid from the outset is a transaction fee.
countrybycountry.com | ABTA Magazine
35
ILLUSTRATION: BEN JENNINGS
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76
