Travellers from across the globe representing all generations, now have a common interest in activities and experiences that are now influencing, indeed in many cases driving their travel decisions, according to new research from Expedia Group Media Solutions.
The research underscores the notion that cultural and once-in-a-lifetime experiences, exploring new destinations and interactive activities, are ranked by all generations significantly higher than value or a discounted price.
Arabian Travel Market 2020, which takes place at Dubai World Trade Centre from 19-22 April 2020, will bring together travel and tourism experts from across the globe to discuss the burgeoning global tours and activities market, which according to New York-based Skift Research, is estimated to be worth $183 billion this year, a 35% increase since 2016.
“Although all generations are now looking for activities and experiences, above all else, what makes this market more complex, is the individual preferences and demands of each generation and of course ultimately, the challenge facing marketers trying to engage with them,” said Danielle Curtis, Exhibition Director ME, Arabian Travel Market 2020.
ATM is holding a series of seminars on its Global Stage identifying the latest in hospitality concepts as well as the most recent trends in cultural tourism to future developments in the wellness economy and responsible tourism. And addressing these issues ATM has recruited industry experts from Kerten Hospitality, Accor, as well as representatives from Abu Dhabi and Ajman tourism boards.
Boomers, born between 1946 and 1964 are the least concerned about budget and are especially interested in sightseeing and in the case of American tourists, 40% will plan their holiday around food and drink. They want safety, security and service and the so-called Platinum Pensioners are a much sought-after demographic – they want to relax and generally avoid long haul trips.
Gen X travelers who are now typically aged between 40 and 56 years, travel least out of the generations, due to corporate careers, 50% of all leadership roles worldwide are occupied by Gen Xers. As such they value work-life balance and prefer relaxing holidays to de-stress. Interestingly, 25% of Gen X will accept word of mouth during their decision-making process and are especially drawn towards cultural experiences Expedia research found that 70% enjoy museums, historical sites and art galleries.
Generation Y or Millennials, who are today aged between 25 and 39, are the most talked about generation and are the undisputed champions of the frequent traveler title, technically adept and the great disrupters. More than anything, Millennials crave adventure and experiential variety and although they are careful with their budget, in gross terms it the largest submarket by revenue, generated through sheer volume.