Fuflilling the Needs of Millennial Travellers

Curiosity and Security: Fulfilling The Needs of Millennial Travellers

The travel industry - alongside nearly every other sector - is acutely aware of millennials, and is eager to provide them with the travel experiences they demand. In Singapore, as it is elsewhere, millennials are the demographic that increasingly makes and spends the nation's money. And so for a travel agent, hotel chain or airline to succeed, it needs to tap into the needs of this key group.

But pinpointing exactly what the average millennial wants from travel is not easy. Indeed, they might only be defined by the fact they are difficult to define.

It’s generally accepted, however, that millennials are spontaneous, curious travellers, fully at ease with last-minute trips overseas. And when it comes to accommodation, they are as at home in boutique rentals as they are in hostels.

This is as true of Asia as it is elsewhere. But this readiness to mix quality and budget accommodation doesn’t mean millennials are not big spenders. Indeed, Asian millennials are expected to splurge S$460 billion on international trips by 2020, according to Brand Karma, a hotel digital marketing agency. 

Millennials have long been disrupting the travel scene. Ross Veitch, co-founder and CEO of travel search engine Wego, said at the Millennials 20/20 summit in 2016: “Millennials aren’t easily fooled, they see through the hype and appreciate the authenticity of a travel experience, well-designed hotel, or great-value airfare.”
Seeing through the hype
The way millennials spend their hard-earned money has also changed, as Veitch says: “They balance their travel budgets differently from their parents, perhaps taking a low-cost flight but staying in a pool suite for a night or two, before moving to a city property that costs less so they can explore their surroundings and spend their money on local food and shopping.”
Identifying with travel
But for the average millennial, travel runs even deeper. It's an activity they identify with, as Tara Cappel, founder of For the Love of Travel - and millennial - made clear in a Forbes article last year: "We consider ourselves citizens of the world and we have an enthusiastic desire to immerse ourselves in another place and return rejuvenated, inspired, and ready for our next adventure. We are travellers."
Assisting and influencing them in their travels are their ever-present sidekicks, smartphones and social media. Researching destinations and booking flights can now be done quickly and easily, but perhaps even more important is the impact of social media. Millennials soak up the international adventures of their friends, picking up ideas, and in turn sharing images of their own trips.
Technology and social media

But it's not all fun and games. Security is now a key concern for millennial travelers, as Julian Walker, head of external communications at Carlson Wagonlit Travel (CWT), explains: “Millennials are far more sociable when they travel, love technology and are most concerned about their own personal safety.”

This assertion is based on the CWT Connected Traveler Study, which surveyed 1,900 travellers from 16 countries. It revealed that among millennial business travellers (aged 24 to 34) 29% would be prepared to cancel a trip for security reasons, compared with 20% of Generation X and just 12% of baby boomers.

Millennials prefer travelling in groups, too, with 58% of them taking trips with colleagues or friends. By contrast, 71% of baby boomers travel alone, and 58% of Generation X travellers take solo trips.

This sense of caution is reflected in how they approach travel insurance: 49% of millennials take out cover, compared with 36% of Generation X and 31% of baby boomers.

There's no way to mitigate every risk while overseas, but taking out comprehensive travel insurance gives you the peace of mind that if something does go wrong, you'll get the help you need.

Knowing that assistance is just a phone call away gives people peace of mind while overseas. With Allianz Travel, for instance, all travel insurance levels include access to a 24/7 Emergency Assistance helpline. Gold policyholders meanwhile have unlimited cover for Overseas Emergency Medical Or Hospital Expenses Due To Sickness; and Overseas Emergency Medical, Hospital or Dental Expenses Due To Accident. These key medical benefits are covered up to S$ 1,000,000 on the Silver plan, and up to S$ 400,000 on the Bronze plan*.

These policies also offer coverage for Traditional Chinese Medicine; Local Hospital Confinement; 24 Hour Emergency Medical Assistance; and Medical Evacuation.

These benefits sit alongside high cover limits for Luggage Delay; Travel Delay; Travel Misconnection; Trip Cancellation; Trip Curtailment; and Loss of Hotel Facilities. For a complete list of benefits and limits, click here.

For the security-conscious traveller - whether millennial, generation X or baby boomer - Allianz Travel has you covered*.

Blog Disclaimer
All content provided on this blog is for informational purposes only. The content of this blog neither makes representations as to the accuracy or completeness of any information on this site, nor is construed as Allianz Travel's offering of travel insurance, unless explicitly stated. Details of benefits, limits, policy exclusions, terms and conditions of Allianz Travel insurance can be found under Allianz Travel Policy Wording.
*Subject to terms and conditions and exclusions outlined in Allianz Travel Policy Wording