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The Future of U.S. Millennial Travel

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The 2018 Future of Millennial Travel Report is your blueprint for the next decade of North American travel. It’s packed with insights gleaned from nearly 1,600 U.S. Millennial travelers interviewed and presented with rich infographics to illustrate their patterns and preferences. Robust editorial dives deep into today’s most effective strategies by the world’s most innovative travel companies. The report’s nine chapters range from the potential of Airbnb to take over the future of travel, to the dramatic rise of Millennials hitting the road with young children in record numbers.

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The Future of U.S. Millennial Travel

  1. 1. Resonance Consultancy is a leading advisor on real estate, tourism and economic development for countries, cities and communities around the world. ABOUT US
  2. 2. Chris Fair, President cfair@resonanceco.com RESONANCECO.COM Vancouver | New York ABOUT US @resonanceco, @crfair @resonanceco @resonanceco
  3. 3. AGENDA 01 METHODOLOGY 02 MILLENOMICS 03 WHO IS THE MILLENNIAL TRAVELER? 04 TYPES OF VACATIONS 05 THE MILLENNIAL MINDSET 06 KEY DECISION FACTORS 07 EXPERIENCES THAT MATTER 08 TYPE OF ACCOMMODATION 9 PATH TO PURCHASE 10 BEAUTIFUL DESTINATIONS
  4. 4. Our 2018 study focuses on Millennial travelers that we define as U.S. residents between the ages of 20 to 36 who’ve taken an overnight vacation at least 75 miles from home in the past 12 months. METHODOLOGY
  5. 5. 2. MILLENOMICS
  6. 6. MILLENOMICS Millennials (age 20-36) surpassed Baby Boomers in 2016 to become America’s largest demographic cohort. Millennial families—defined as married or unmarried couples living together with children aged 17 or under currently in the household—make up 16 percent of all American travelers, according to MMGY. They went on a combined 36.9 million vacations and spent $50.4 billion on leisure travel during the past 12 months. They are the driving force behind growth in travel this year.
  7. 7. 3. WHO IS THE MILLENNIAL TRAVELLER?
  8. 8. AGE 53% of Millennial travelers surveyed are 29 to 36 years old, while 47% are 20 to 28 years old.
  9. 9. INCOME More than half of U.S. Millennial travelers have household incomes between $50K and $100K. As of 2016, there were 1.9 million households aged 24-35 with household income of $35-$50k and 11.9 million with income of $50k+.
  10. 10. MARITAL STATUS More than 6 in 10 Millennial travelers are married, while one third are single.
  11. 11. CHILDREN More than half of Millennial travelers have children under 18 years in the household.
  12. 12. 4. TYPES OF VACATIONS: A STUDY IN CONTRASTS
  13. 13. ALL MILLENNIALS In the next 24 months, Millennial travelers are most likely to take family vacations with kids, visit beach resorts, take vacations with friends, and visit major cities.
  14. 14. TOGETHERING Our research shows that Millennials aren’t just traveling more than ever before; 44% of them are traveling with kids in tow, too and 40% are vacationing with friends.
  15. 15. SOLOISTS 1 in 4 of Millennials polled in our study said they are likely to take a vacation on their own in the next 24 months.
  16. 16. CITIES According to the vacation preferences revealed by our study, Millennial travelers are almost as likely to visit a major metropolitan city (38%) as they are to visit a beach resort (40%) in the next 24 months. City trips soared 98% between 2011 and 2016 to reach 26% of all holidays. —World Travel Monitor®
  17. 17. CAMPING in the next 24 months, 34% of Millennial travelers plan to go camping. That number is only a few percentage points shy of those who plan to visit a major metropolitan city (38%).
  18. 18. 5. THE MILLENNIAL MINDSET
  19. 19. TYPES OF TRAVELERS 01 ALL-IN ENTHUSIASTS 02 FRUGAL FAMILIES 03 ACTIVE ADVENTURERS 04 SOPHISTICATED EXPLORERS 05 CONVENIENCE TRAVELERS
  20. 20. ALL-IN ENTHUSIASTS They’re interested in taking most types of vacations, and everything is important when deciding on a destination. They’re more likely to participate in most types of activities, and they go on vacations for many different reasons.
  21. 21. FRUGAL FAMILIES They take fewer & shorter trips that are close to home, and have a greater interest in family vacations with kids and multi-generational vacations compared to other segments. They place greater importance on safety, cost, and favorable climate.
  22. 22. ACTIVE ADVENTURERS Greater interest in participating in outdoor sports & health/fitness activities. Less interested in family or multi-generational vacations. More likely to travel greater distances to get to their destination.
  23. 23. SOPHISTICATED EXPLORERS Take fewer vacations per year to further destinations. More likely to enjoy sightseeing, visiting cultural attractions & learning new things. Do a lot of research prior to vacation & feel that exploring new cultures & traditions while on vacation is important.
  24. 24. CONVENIENCE TRAVELERS Take shorter, less frequent trips per year that are close to home. English spoken is important when choosing vacation destination. Less likely to participate in all vacation activities, except dining & fun attractions.
  25. 25. WHAT TYPE OF TRAVELERS ARE MILLENNIALS? All-in Enthusiasts represent the majority of Millennial travelers compared to only 25% for all U.S. travelers.
  26. 26. 6. KEY DECISION FACTORS IN CHOOSING A VACATION DESTINATION
  27. 27. ALL MILLENNIALS The two most important decision factors when Millennials choose a vacation destination are safety and cost, followed by English spoken and quality of natural environment/scenery.
  28. 28. ALL-IN ENTHUSIASTS Safety, opportunities to learn something new and cost are the most important decision factors when All-in Enthusiasts choose a vacation destination.
  29. 29. ADVENTURERS Cost, safety and the quality of the natural environment are the most important decision factors when Adventurers choose a vacation destination.
  30. 30. FAMILIES Safety, cost and English-speaking destinations are the most important decision factors when Families choose a vacation destination.
  31. 31. 7. EXPERIENCES THAT MATTER
  32. 32. ALL MILLENNIALS Dining, fun attractions, & sightseeing are the top activities Millennial travelers enjoy while on vacation, followed by learning new things & shopping. Participating in a once-in-a-lifetime activity & volunteering are the most desired future activities.
  33. 33. ALL-IN ENTHUSIASTS Dining, fun attractions, and learning new things are the top activities All-in Enthusiasts enjoy while on vacation.
  34. 34. ADVENTURERS Dining, fun attractions, and sightseeing are the top activities Active Adventurers enjoy while on vacation.
  35. 35. FAMILIES Dining, fun attractions, and sightseeing are the top activities Families enjoy while on vacation.
  36. 36. FUN ATTRACTIONS Zoos 84% Theme parks 82% Aquariums 80% Water parks 79% Science centers 71% Ferris wheel (e.g. London Eye) 61%
  37. 37. FUN ATTRACTIONS Fly Over Canada FlyOver Canada utilizes state-of-the-art technology to give you the feeling of flight on an exhilarating journey across Canada, from east to west. Special effects, including wind, mist and scents. FlyOver Iceland is coming in 2019 to reveal some of Iceland’s most awe-inspiring and picturesque landscapes and destinations.
  38. 38. CULTURE Local community events 70% Going to see plays or musicals 64% Music festivals 63% Food & wine festivals 63% Art festivals 56% Comedy festivals 53% Attending the symphony, opera or ballet 51% Film festivals 49% Fashion shows 41%
  39. 39. CULTURE Smorgasburg, Brooklyn Smorgasburg is the largest weekly open-air food market in America, attracting 20,000-30,000 people to Brooklyn each weekend to eat from 100 local vendors.
  40. 40. LEARNING NEW THINGS The Moth The Moth hosts live storytelling events in cities around the world, engaging both locals and visitors. 602 events are planned for 2018.
  41. 41. SHOPPING Shopping malls 88% Department stores 87% Shops featuring locally made goods 82% Small boutiques 80% Art galleries 63% Luxury brands 56%
  42. 42. SHOPPING Boxpark, London Boxpark is the world’s first pop-up mall—fusing the concepts of modern street food and placing local and global brands side by side to create a unique shopping and dining destination. Boxpark stands proudly in the heart of London’s Shoreditch to deliver a community of local brands specializing in fashion, arts, food and drinks. After Shoreditch and Croydon, Boxpark is coming to Wembley.
  43. 43. NATURE Tentrr Tentrr wants to take the hassle out of camping. Launched in 2016, the app lets users find and book upscale campsites on private land. When guests arrive, they find their hand-sewn canvas tent already set up, so their vacation starts that much sooner.
  44. 44. NIGHTLIFE Sofar Sounds Sofar Sounds is reimagining the live event experience through curated, intimate performances. Sofar Sounds is a community of thousands of artists, hosts, fans, travelers and more, putting on hundreds of secret, intimate events per month, across more than 403 cities around the world.
  45. 45. OUTDOOR SPORTS Swimming at a beach or resort pools 83% Jogging 71% Watersports 62% Boating/sailing 62% Hunting/fishing 60% Cycling 60% Tennis 55% Skiing/snowboarding 55% Mountain biking 52% Horseback riding 52% Scuba diving/snorkeling 51% Golf 50% Extreme sports 43%
  46. 46. OUTDOOR SPORTS Epic Pass / Ikon Pass The Epic Pass and the Ikon Pass offer unlimited, unrestricted access to resorts worldwide.
  47. 47. HEALTH Working out 80% Spa treatments 68% Yoga 59% Fitness classes 55% Meditation 54% Medical treatments 44% Spin classes 42% Weight loss programs 42%
  48. 48. HEALTH Wanderlust Festivals Wanderlust Festivals are all-out celebrations of mindful living. In the midst of some of the most breathtaking natural settings imaginable, visitors are surrounded by a dynamic family of one-of-a-kind instructors, musicians, speakers, chefs and fellow celebrants.
  49. 49. 8. TYPE OF ACCOMMODATION
  50. 50. AIRBNB More than half of Millennial travelers regularly or occasionally use owner-direct accommodation services.
  51. 51. PREFERENCES The most preferred accommodation type among U.S. Millennial travelers is a full-service hotel/resort, followed by staying with friends/family, and all inclusive resorts. Roughly one-third prefer upscale/luxury hotels/resorts, camping & house/villa rentals.
  52. 52. HOTEL AMENITIES The most desirable hotel amenities include: free Internet access, privacy, swimming pool, walking distance to shopping/restaurants and proximity to must-see attractions. Free Internet/wifi access is clearly the most desirable hotel amenity.
  53. 53. HOTEL AMENITIES Other desirable hotel amenities include: all-inclusive packages, followed by hotel restaurant and access to public transportation.
  54. 54. HOTEL AMENITIES Less desirable hotel amenities include: fitness center, kids’ program, concierge service, valet parking and business center.
  55. 55. 9. PATH TO PURCHASE
  56. 56. TRAVEL BOOKING METHOD Online vacation bookings are the most common booking methods among Millennial travelers, with two-thirds booking on travel websites & close to half booking through specific hotel/resort/airline websites.
  57. 57. USE OF TECHNOLOGY On a daily basis, U.S. Millennial travelers are most likely to text message, check emails & visit websites to research things to do during their vacation.
  58. 58. SOCIAL INFLUENCE Online content and social media channels are the most influential travel media channels when deciding on a vacation destination.
  59. 59. 10. BEAUTIFUL DESTINATIONS
  60. 60. JEREMY JAUNCEY
  61. 61. MEDIA BRANDS Instagram Facebook Youtube Snapchat Website
  62. 62. ONLINE COMMUNITY 10.7M followers on Instagram 1.3M followers on Facebook 20 million daily users
  63. 63. MOBILE IS THE DOMINANT PLATFORM IN TRAVEL MEDIA
  64. 64. VIDEO IS THE FUTURE
  65. 65. VISUAL CONTENT TARGETING & TESTING
  66. 66. TARGET AUDIENCES DIRECTLY INFLUENCE THE TYPE OF CONTENT SHARED ON MEDIA CHANNELS
  67. 67. UNIQUE CONTENT AND STORYTELLING ARE KEY
  68. 68. INVEST IN VIDEO AND DIVERSIFY YOUR CONTENT
  69. 69. SOCIAL MEDIA INSIGHTS GUIDE OTHER MEDIA CHANNELS AND CONTENT
  70. 70. BEAUTIFUL DESTINATIONS Instagram Facebook Youtube Snapchat Website
  71. 71. CONCLUSIONS
  72. 72. RESONANCE SERVICES Consumer Segmentation Analysis Competitive Identity Benchmarking Brand Strategy Destination Development Planning Communications
  73. 73. Chris Fair, President cfair@resonanceco.com RESONANCECO.COM Vancouver | New York THANK YOU @resonanceco, @crfair @resonanceco @resonanceco

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