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How Millennials Are Changing Business Travel

May 10, 2019 Geekopedia 0 Comment Booking, Business, Expedia, Market, Millennials, Personalisation, Skyscanner, Travel, Trends

Millennials are an often talked about demographic, largely due to the massive impact the group is making on business and culture. They are a purpose-driven group, which has led this demographic to be more focused on entrepreneurship and starting digital companies. Because of the location-independent nature of the start ups, often servicing clients and customers outside of their home country, there is a greater need for millennials to travel for business. It’s estimated that by 2020, millennials will account for almost 50% of travel spendings, with a main reason being for business. So how exactly is this rise in young millennial business travel affecting the industry?

The Need For 24/7 Support

Millennials are always plugged in and switched on, and they expect their travel suppliers to be the same. Because they are travelling so much more than other age groups, with 2-5 trips a year on average, they expect the airlines, airports, and other hospitality services to always be available on their phones. This has led to a rise in AI and bots being used for travel services. All major airlines have developed apps due to the large demand for online boarding pass access, seat selection, and up to the minute notifications on flight details.

Millennials Want Their Dollar To Go Farther

In contrast to older demographics who travel on business, such as the baby boomer generation, millennials do not have as much money to spend on their business travels. Their expectations remain high in their quality of service, but they simply do not want to pay for it. For this reason, millennials are often on a search for points-based reward programs as well as airline and travel membership perks, especially when traveling on business. More travel companies are realizing that in order to retain business from this age group, they will need to offer up incentives.

Personalisation is Expected

It’s estimated that 80% of consumers seek a unique travel experience, and millennials are a large driving force behind this need for personalisation. The use of third party booking systems, such as Expedia and SkyScanner, are often used by this age group, and assist in the personalisation of their travels by selecting different airlines and altering layover times to accommodate different needs. Because of the rise of apps as mentioned, personal preferences are expected to be remembered and adhered to, as it’s all trackable. When business travel demands return trips to a certain destination, millennials expect the airlines and hotels to remember their requests as a frequent traveller.

Being such a large and influential segment of business travelers means that millennials are bound to be affecting trends in travel. As a result, businesses in this industry will have to swiftly adapt to changes and trends in the coming years to account for this demographic’s desires and needs.

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