Get Your Travel Business Ready for a New Generation

The travel industry is currently experiencing a monumental shift. It’s clear when we look at who is traveling. It’s no longer all baby boomers with retirement time on their hands. It’s millennials with money to spend and Gen Zers looking for the next adventure. And as the industry shifts, so should travel planning businesses. It’s time to get your travel business ready for a new generation!

In 2022, Travel Weekly reported that the 80% of travel advisors are aged 45 or older. That means that many will be looking for a way out sooner rather than later. If they want to sell their businesses or pass them on to successors, it’s essential to bring them up to speed.

Let’s dig in to the travel industry a bit for some insight on why updating our businesses is important. We’ll explore who is traveling and why, along with the latest travel trends.

What Does Today’s Traveler Look Like?

There’s lots of data to demonstrate the shift in clientele. For example, roughly 60% of Gen Zers and millennials planned travel in 2024. That’s in stark contrast to the 50% of Gen Xers and 44% of baby boomers that planned.

Let’s do a quick breakdown of each…

Gen Z (ages 16-26)

This group of young adults is a key demographic to watch. They are just beginning to travel and seeking adventures and experiences that lead to growth and self-discovery. Forty-three percent want to experience something new when they travel and 52% prioritize adventure. Gen Zers also are focused on global awareness and sustainable travel practices that protect the places they want to visit.

Because they are still early in their careers, planning and budgeting are essential. They prefer online platforms (83%) and bundling reservations and services and use their personal devices (cell phones) for travel planning.

Millennials (ages 27-42)

Millennials are typically well-established in their professional lives, so travel for them is a chance to relax and focus on well-being. The experiences they seek are diverse – everything from cultural and sporting events to wellness retreats and outdoor adventures. Sustainable travel practices are also increasingly on their minds.

Eighty-three percent of millennials will spend more for comfort and convenience while traveling.

Gen X (ages 43-56)

Gen Xers tend to be a mix of the older and younger generations, preferring new adventures and wellness-focused travel along with local cultural and culinary experiences.

Seventy-nine percent also value technology as a tool to make planning easier and want access to their personal devices while traveling.

Baby Boomers (ages 57-74)

As a general rule, baby boomers still prefer an “in-person” touch while traveling. They appreciate fine dining and excellent service as very important parts of their experiences.

While boomers recognize the benefits of technology, they are “more than twice as likely to say the ‘human’ factor of hospitality makes the travel experience.”

Exploring Travel Trends

Now that we understand who is traveling and why, let’s take a brief look at some of the travel trends that are impacting businesses. Some of these include online platforms, changes in tech, and a growing demand for sustainable travel options.

Online Platforms

Perhaps one of the biggest changes in the travel industry is the surging popularity of online platforms. The reasons are simple:

• Convenience
• Accessibility
• Streamlined operations like registrations and payments

Travelers can book their travels anytime and anywhere-quickly and easily. They can view itineraries, register for the trip, pay for it, purchase travel protection, etc.

Online platforms also give us an irrefutable electronic trail – improving security and providing travelers with peace of mind.

Upgrade Your Trip Planning Tech

Changes in Tech

Online platforms aren’t the only changes in tech we’re seeing in the travel industry. Mobile apps, social media, digital marketing, AI, and cloud-based collaboration tools are revolutionizing how we travel.

By leveraging these technological advancements, group travel planning businesses can streamline operations, enhance customer experiences, and reach a wider audience, ultimately leading to their growth and success.

https://grouptravelodyssey.com/blog/6-advancements-in-tech-that-benefit-group-travel-businesses/

Sustainable Travel

As anti-tourism movements ramp up across the globe, the demand for more sustainable travel options is increasing as well. For many companies, the idea of focusing on best practices isn’t new – but for others it is.

Building itineraries with an emphasis on a destination’s natural resources, customs, and economy might take some getting used to, but it’s one that will help travel businesses stay competitive in the future.

https://grouptravelodyssey.com/blog/practice-responsible-tourism/

The Big Takeaway

So… what is the takeaway here? Younger travelers and their preferences for technology, unique, sustainable experiences will soon eclipse older travelers as the largest market share.

They are actively redefining what it means to travel – and travel planning businesses need to take note if they want to continue to be relevant in the industry.

A travel business that still operates using spreadsheets, checks for payments, or newspaper ads (all tried and true methods once upon a time) will find itself struggling to be relevant.

This is not the legacy an owner wants to leave behind.

How GTO Can Help

If you’re ready to get your travel business ready for a new generation, a cloud-based, travel planning platform like Group Travel Odyssey (GTO) is a game-changer.

GTO is a comprehensive, group tour building system that uses apps and integrations for sales, operations, marketing, and passenger management. It includes the online registration and payment platform options today’s traveler wants.

GTO also gives group travel planners access to current pricing and products for more than 20,000 suppliers, access to itinerary templates, and the ability to streamline operations, saving time and money.

Get Your Travel Business Ready for a New Generation

Taking proactive steps now to refresh your business practices demonstrates that you are ready to keep pace with today’s traveler. It shows that you understand the shifting demographics and focused on the future.

Most importantly, it indicates that your business is on a healthy trajectory of success – and ready for a new generation!