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How Millennials are Changing the Way We All Travel

By M+E Staff

Allianz Global Assistance USA recently surveyed American’s travel expectations from the past year and discovered millennials are improving the travel experience for everyone. Millennials actually spend less on shorter vacations but are getting more memorable experiences out of these lower budgets and tighter schedules. This is leading to innovation that shaping the travel industry.

According to the 2017 Vacation Confidence Index, millennials, on average, earn the least ($72,400), get the least vacation (12 days), take the least vacation (8.4 days), and spend the least ($1,373) on their vacation, when compared to their older counterparts. These factors lead to this younger generation to spend their money on disruptive products and services that maximize their ability to create authentic trips. 

The sharing economy, including companies like Airbnb and Uber, allow travelers to save money while also gaining truer sense of the city they are travelling to by experiencing it like a local. 83 percent say they are more likely to trust a sharing platform over an established method like a travel agent or online booking service. This generation also trusts that they shouldn’t have to speak with another human during their booking process, preferring instead to connect through social media, online instant messaging or AI automated services.  

“By surveying millennials about their travel plans, we’ve captured a glimpse of what the future of travel may look like for all of us,” said Daniel Durazo, director of communications at Allianz Global Assistance USA. “While millennials are more open-minded than other age groups about new developments – like the sharing economy and future travel methods – they also spend less and take fewer vacation days. How travel brands address these habits will make a significant impact on the travel industry as a whole.”