Travel agents, suppliers and local economies have benefitted from an extremely prolonged period of growth over the last 8-10 years. But in the matter of a few months, two substantial surveys agree that leisure travel growth may be slowing.
The seventh annual Hotels.com Chinese International Travel Monitor has revealed that Chinese millennials born after 1990 are pushing the boundaries of international travel, increasing their travel expenditure in the past year by a staggering 80 per cent to fund social media-influenced trips full of edgy experiences, high tech accommodation, exotic delicacies and taboo ticket-items.
Star-struck by global pop-culture, film and television (62 per cent) are now the main sources of inspiration for Chinese millennial travellers, playing a key role in attracting them away from Asian destinations, and to more far flung parts of the world for their thrills and frills.
Travel brag moments and selfies were a huge part of the Chinese millennial travel experience in 2017, with 63 per cent using the reverse camera angle to boost likes and build their social brand. While millennials were at the helm of social media influence and trends, the report found that no generation was free from its undeniable draw, with a third of the older generation reporting their travel decisions and behavior were influenced by their digitally-connected children.
TTRA update: The July 2018 (vol 57, no 6) issue of the Journal of Travel Research is now available at http://bit.ly/jtr57no6
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3 Charts From Our Skift Research Reports
Summer is here. Year 2018 is halfway through. We at Skift have written hundreds of articles covering the hot and the not-so-hot areas in travel thus far. For this short piece, we will show you a few charts extracted from a select Skift Research reports published this year. The common thread? They are all topics that travel stakeholders need to think about, deeply.
For the first time in 12 years, travel marketing firm MMGY forecasts a decline in the number of vacations Americans will take.
MMGY’s survey asked travelers about their intentions to travel more, less, or the same in the year ahead compared to the previous 12 months. Twenty-one percent of travelers indicated an intention to take more vacations, while 30% said they plan to take fewer, resulting in a 9-point negative variance in vacation intentions.
This is the first time that variance has been negative in the 12 years the question has been asked, and it raises a concern about a softening of the leisure travel market in the months ahead.
Airlines Reporting Corp. reported today that travelers flying during the summer months can expect to pay slightly less than last year. This drop mirrors what ARC sees as a larger trend in average ticket prices, posted monthly on the company’s website. Travel sold to the top 10 destinations by U.S. travel agencies is up from 2017, showing continued strong demand for air tickets in the U.S. Like 2016 and 2017, ticket sales to Cancun continue to be the top seller this summer.
Other summer hot spots are on the rise for U.S. air travelers this summer. Ten percent more travelers will fly to Punta Cana as compared to the same period last year while Honolulu will see a 14 percent increase. Air travel to Orlando and Seattle increased eight percent year over year. New York and Los Angeles will also see a four percent increase in air travel, while air travel to Las Vegas is down eight percent although it still ranks in the top ten.