The Next Decade of Youth Travel

Part I of III

July 2020

EXECUTIVE SUMMARY

This research presentation compiles insights from the Center for Generational Kinetics, The Federal Reserve, SnapChat, WYSE, Skift, Forbes and other sources to highlight recent findings about the Millennial and Generation Z demographics. We consolidate these findings and use them to forecast the trends we see most relevant to the travel industry, then provide recommendations on where companies should focus their innovation and growth strategies.

The last section of this presentation draws conclusions and opportunity areas for hospitality companies to impact the future of youth travel, which we use as a foundation for conversation starters with clients.

Here are a few key takeaways:

  • Millennials have split into at least two different lifestyle designs — traditional lifestyles (married, house, kids) and alternative lifestyles (non-committal, freelancers, wanderlusts)

  • Generation Z is intuitive, socially active and self-aware which causes them to seek genuine, high-value experiences which help them grow as an individual

  • Researching Youth Travelers, those aged 15 - 29, allow us to view commonalities across both of these generations

  • Student travelers account for nearly 60% of youth travelers globally, offering an opportunity for brands to leave a positive impact and deepen trust with these guests during their developmental years

  • Solo travel and location independent workers, also referred to as digital nomads, are on the rise and have different amenity needs

  • Key growth areas within hospitality will be in unique accommodations, social clubs and outdoor adventures offering authentic experiences

This tool is best delivered in person, but we want to make the deck available to the public to share our research and inspire others to think about how their business could innovate based on these findings.

We hope you enjoy!