Family trips are the most popular holiday type for US millennials and almost half of them plan to make family vacations in the coming two years.
In fact, millennials travel more than ever, with 44% vacationing with children.
According to Google, Athens is among the top 5 destinations of American millennials, with Osaka ranking first, Bangkok second, Kuala Lumpur third and Bordeaux fourth .
These are some of the conclusions of 2018: The ‘Future of U.S. Millennial Travel’ report by Resonance Consultancy, leading advisors in real estate, tourism, and economic development for countries, cities and communities.
This 70-page consumer research report is its first on U.S. Millennial travelers since 2015, an exclusive piece of research that was immediately embraced by developers, destinations and communities as a guide for harnessing a swelling, still-perplexing wave of consumers who are—in less than a decade—completely shredding the consumer funnel and transforming how we all attract new business and maintain brand loyalty.
For the report, Resonance Consultancy interviewed more than 1,600 U.S. Millennial travelers they define as U.S. residents between the ages of 20 and 36 who’ve taken an overnight vacation at least 75 miles from home in the past 12 months. This demographic is projected to have an annual spending power of $200 billion this year alone.
The 2018 Future of Millennial Travel Report is divided into nine chapters, each packed with insights and rich infographics that visually communicate this demo’s patterns and preferences, while robust editorial dives deep into today’s most effective strategies by the world’s most innovative travel companies. Chapters range from the potential of Airbnb to take over the future of travel, to the dramatic rise of Millennial travel with young children.
Millennials prefer hotels to Airbnb
According to the report, U.S. travelers between the ages of 20 and 36 years (the ones featured in all that Airbnb marketing over the past year—on TV, Instagram and even the company’s own magazine) prefer a licensed, staffed hotel to an Airbnb rental. This despite the home-sharing service’s continued increase in capacity in 65,000 cities and rising valuation in advance of an imminent IPO.
The report found that despite 52% of respondents saying they regularly or occasionally use owner-direct rental services like Airbnb, it is actually among their least-preferred choices in terms of accommodation.
In fact, only 23% said that a short-term apartment and/or condo rental was their preferred type of accommodation.
After a full-service hotel as their first choice, Millennial traveler respondents cited staying with friends/family as their second choice, followed by a stay at an all-inclusive resort. Roughly a third of Millennial travelers prefer upscale and luxury hotels/resorts (35%), followed by camping (33%).
Read more and download the full report here.
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