Millennials Driving Change in Travel Industry

Even though they spend less and take shorter vacations than the average consumer, Millennial travel habits are “driving innovation that will shape the industry in their image,” says a new study from Allianz Global Assistance USA.

Because of their age and earlier career stages, Millennials earn about $72,400 and get the least vacation (12 days) compared to their older peers, according to Allianz’s 2017 Vacation Confidence Index. As a result, Millennials take the least vacation (8.4 days), and spend the least ($1,373) on their vacation, when compared to their older counterparts.

“It’s no surprise, then, that the limited time and money they have is spent on disruptive products and services that maximize their ability to create unique and authentic travel memories,” Allianz said.

Millennials also seek less direct contact with travel service providers, Allianz found, with 78 percent likely to reach them through social media, compared with just 47 percent of travelers over 35. Only 34 percent prefer in-person contact (34 percent) or even a phone conversation (27 percent).

Just under half (47 percent) of travelers over 35 years of age prefer in-person interaction, while 33 percent will dial into a call center.