Millennials Plan to Travel More than Baby Boomers
Millennials are more optimistic and plan to travel more often than Baby Boomers, according to a new study from American Express.
The American Express Spending & Saving Tracker report found Millennials plan to travel more frequently in the next five years than Boomers (52% vs. 32%). Millennials also plan to spend more on these trips than they have on past vacations (58% of Millennials vs. 41% Boomers). When traveling, both age groups prefer human interactions. 89% of Millennials said this type of personal service cannot be replaced.
“One thing is clear, people, regardless of their age and the cost of travel, place a high value on personalized service in their travel experience,” said Claire Bennett, Executive Vice President of American Express Travel.
Other key findings include:
- Many believe Millennials will not use a travel agent, but 60% of this age group said they would pay more for an agent’s expertise. Additionally, nearly 93% of Millennials who have used a travel agent in the past five years said it enhanced their travel experience.
- Millennials have similar travel needs to their parents. 76% said they prefer to stay in a traditional hotel, which is nearly equal to Baby Boomers. 46% of both groups also say that enhanced in-room technology is the hotel trend that excites them the most.
- 70% of Millennials want a personalized travel experience, but 58% said they would choose a package if it was less expensive. Unlike Boomers, Millennials are willing to let brands use data from their past travel purchases to deliver a more personalized experience.
- Three-quarters of Millennials say they want to live in the moment while traveling, but they still feel pressured to post on social media. More than half (54%) feel responsible for posting reviews to help other travelers. This is problematic, though, as 25% said they feel as if they spend too much time on social media while traveling–an issue previous generations do not face.