LAS VEGAS, NV (July 12, 2016) — Millennials are the largest demographic group in the United States. Defined as people born between 1982 and 1999, at 75.4 million they are larger than the 74.9 million baby boomers (1945 — 1960) and 66 million members of Generation X (1961 — 1981). Owing to their overall size, companies in every industry are paying close attention to trends among the group. One of the most notable generational differences is in travel — their approach to it, what they want from it, and how they book it. Diamond Resorts International® timeshare ownership leader, has examined some of the changes and consumer trends happening within the travel industry spurred by millennial influence.
Diamond Resorts International® timeshare experts find one of the most surprising results of its research to be that despite common assumptions that young people don’t like cruises, millennials actually show a high interest in the convenience and overall affordability they offer. In fact, at 51% replying that they are interested in taking cruise within the next two years, they are equal to the “mature” demographic.
Another interesting find from the research is that despite most expectations that young people are more bold and exploratory, up to 43% of millennials say they are intimidated by the prospect of solo travel, versus just 33% of Gen-X and 32% of baby boomers who say they feel the same.
Typically identified as the “native digital” generation, millennials also show a dramatic split when it comes to social media. 43% of them say that their interest in where to visit is based on photos posted by friends, compared to 29% of Generation X and only 16% of baby boomers. When they do book, millennials are more likely to use a loyalty program to save some money. 48% report loyalty programs are important when booking flights and 51% say they use them when booking hotels. Only about one-third of older people (ages 46-65) report an interest in the programs (31% and 30%, respectively).
As may be expected, millennials use mobile devices more frequently than other groups. 32% of those 30 and under report using a smartphone and 20% report using a tablet for booking travel, compared to just 12% for smartphone and 9% for tablet use by those over 45. And it may be the overall blossoming of youth and adult freedom, but millennials are the only group who plan to travel more in the coming year than they did last year, with 10% expecting to do so.
About Diamond Resorts International®
Diamond Resorts International®, with its network of more than 420 vacation destinations located in 35 countries throughout the continental United States, Hawaii, Canada, Mexico, the Caribbean, South America, Central America, Europe, Asia, Australasia and Africa, provides guests with choice and flexibility to let them create their dream vacation, whether they are traveling an hour away or around the world. Our relaxing vacations have the power to give guests an increased sense of happiness and satisfaction in their lives, while feeling healthier and more fulfilled in their relationships, by enjoying memorable and meaningful experiences that let them Stay Vacationed.™
Diamond Resorts International® manages vacation ownership resorts and sells vacation ownership points that provide members and owners with Vacations for Life® at over 420 managed and affiliated properties and cruise itineraries.
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PRESS RELEASE SOURCE: Diamond Resorts International