5 Ways Millennials are Changing Travel
Tuesday, January 13, 2015
A recent press release from the North American Precis Syndicate (NAPS), indicates that Millennials are changing the travel industry—for the better.
According to the United Nations, 200 million international travelers are Millennials. Comprising almost 20% of all international travel, young people are becoming a major influence to trends within the industry.
Here are just five of the ways that Millennials are changing travel:
1. They Travel More—Recently, Expedia conducted a study that indicated Millennials are traveling more often, and are committed to traveling. Travelers 30 and under take an average of 4.2 trips a year, not including business travel. This is more than any other age group. Millennials are also the largest growing segment of timeshare buyers. According to a study released by ARDA, new timeshare owners are 10 years younger than traditional owners.
2. They Are More Adventurous—Millennials aren’t just vacationing to lay on the beach, they’re traveling to experience new and different cultures. While they still enjoy traditional destinations, they are also traveling to more exotic destinations like New Zealand and Costa Rica.
3. They Choose Vacation Clubs Over Vacation Homes—The majority of young people are more interested in buying timeshares than vacation homes. In a somewhat shaky economy, Millennials are not interested in fully investing in a second home. They would rather join a vacation club or purchase a timeshare that will allow them to travel when and where they want. The flexibility of timeshare points also means that they can travel to more destinations with ease.
4. They Research—Millennials use the internet to research before they buy almost anything, including vacation packages. Young people are like to try before they buy. According to ARDA, 42% of first-time timeshare buyers rent through sites like ResortRentals.com before they buy.
5. They Use Mobile Technology—Millennials use tablets and mobile devices to research and book vacations. According to the Expedia survey, 82% of people under 30 own and use smartphones.
Stay tuned to TheTimeshareAuthority.com blog to learn more about travel and timeshare trends.