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What makes the millennial generation - those born between the early 1980s and 2000s - tick? This is the question that has been posed by everyone from marketers to recruitment experts; all of which want know what drives the actions and choices of this influential group of people.
Now, new research has shed light on the world of millennial travellers - revealing that a desire to experience everyday life in another country and increase their own knowledge is a key motivation behind exploring pastures new.
The findings come as part of the Millennial Traveller report from the WYSE Travel Confederation which also revealed that tasty food and friendly locals sit high up on the 'ideal holiday' wish list for millennial travellers.
Just under a quarter (23%) of millennials are so keen to immerse themselves in different cultures that they try to spend time with as many different nationalities as possible when on their travels.
However, when it comes to this group's go-to source of travel information, surprisingly, word of mouth still remains popular with recommendations from family and friends topping the list for 67% of those questioned.
Millennials prepared to splash out on the ultimate holiday experience
Further figures from the survey revealed that millennials aren't afraid to splash their cash when exploring the four corners of the globe, with 50% spending more than €1,000 for their whole trip. This figure is €100 more than the average trip spend for an international tourist.
Which destinations are millennials pouring out the contents of their holiday spending pots in?
According to research, the majority of millennials have set their sights on Australia and the United States as their preferred next trip destinations (each at 11%), followed by the United Kingdom (8%).
Commenting on the growing importance of the millennial generation, David Chapman, Director General of WYSE Travel Confederation, said:
“Young travellers of the millennial generation represent 20% of international travellers; by 2020, 320 million international trips are expected to be made by youth travellers each year; a staggering 47% increase from 217 million in 2013."
If you are heading off to explore the rest of the globe, it's important to organise backpackers travel insurance in advance.
Date Created: 20/11/2014