A new generation of business travelers is quickly becoming a force to be reckoned with. Millennials, the generation of tech savvy digital natives currently in their twenties and early thirties, will account for nearly half of the workforce by 2020, bringing with them vastly different travel habits and expectations than previous generations.
The study was conducted across five continents, asking 8,535 employed adults in 24 countries about how they conduct business and leisure travel – their likes, dislikes, preferences, and pet peeves. The study aims to discover how millennials will impact the travel landscape as they gain decision-making power at work and purchase power in their personal lives.
Millennials in the U.S. value diversity, embrace a global perspective, and are open to new experiences. These characteristics—which suggest a generation of natural travelers—are good news for the travel industry. At this stage in their lives, however, many of today’s 16- to 34-year-olds have limited discretionary income and choose to dine out, shop for apparel, or save for big-ticket items such as education, a home, or a car instead of spending their money on travel. Millennials also seem to be more affected by adverse economic conditions than non-Millennials. As a result, most Millennials can’t afford extensive leisure travel, and few are fully active business travelers—yet. We estimate that they currently account for about one-third of total U.S. spending on business flights.
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