This is our first article in a series of three regarding the fun summer unfolding and the way we will spend it. To make it more interesting, we’ve divided our expected spending and behavior patters by the major spending generation. Baby Boomers are now 55 to 73 years of age. Gen X is 40 to 54. Millennials, our largest group are now 24 to 38.
With summer-time upon us, the travel season is hitting the peak. Consumers are hitting the roads and taking to the skies in droves in order to do everything from working, to visiting family, and even just taking the time to do something as simple as creating a memorable and educational experience. With schools out for the summer, many families are taking summertime as the usual opportunity to create multi-generational memories. And with Atlanta being the busiest airport in the world, with more passengers coming through per day than any other airport (and Chicago a close second), Atlanta is perfectly situated not just for domestic travel, but for international travel as well.
So who is traveling and where are they going? We gathered up some interesting statistics from current studies to give you a glimpse of who might be coming to your neck of the woods and what they might be doing when they get there. According to a survey by AARP taken in 2018 of more than 1,700 American travelers, we get a pretty good idea of where the three main groups are going and why in the table below.
Base: International and Domestic Trips in 2018: Data based on Total Responses, up to 5 trips discussed n = base number of responses; pink indicates most popular selections. Source: AARP “Travel Research: 2018 Travel Trends” Report and JB Research Company
Millennials are traveling more than other generational groups, and they are taking more celebration vacations. They are enjoying multi-generational trips, which is important because family size and expenditures are necessarily higher. Baby Boomers also are planning multi-generational trips. Gen X takes the most weekend getaways.
The primary mode of transportation for domestic and international travel are: plane (66% domestic & 87% international), cruises (5% domestic & 35% international), train (6% domestic & 16% international), rental car (24% domestic & 14% international), personal car (60% domestic & 13% international), and buses (2% domestic & 10% international) (AARP).
According to the same survey, here is a more detailed look at why the three main demographic groups choose to travel in 2018:
Base: International and Domestic Trips in 2018: Data based on Total Responses, up to 5 trips discussed n = base number of responses; pink indicates most popular selections. Source: AARP “Travel Research: 2018 Travel Trends” Report and JB Research Company
Other reasons the three groups choose to travel are visiting family and friends, rejuvenating, and getting away from a busy life:
Source: AARP “Travel Research: 2018 Travel Trends” Report
Many in each of these groups will choose not to travel this summer, with cost being the main impediment, as shown below:
Source: AARP “Travel Research: 2018 Travel Trends” Report
Source: AARP “Travel Research: 2018 Travel Trends” Report
All three generations plan to spend spend significantly more in 2018 than 2017, with Millennials planning to spend the most on vacations.
As suppliers of retail, dining and entertainment experiences, we should take note of these trends and make this the best and most profitable year ever!
Sources:
- https://blog.accessdevelopment.com/tourism-and-travel-statistics-the-ultimate-collection
- https://www.aarp.org/content/dam/aarp/research/surveys_statistics/life-leisure/2017/2018-travel-trends.doi.10.26419%252Fres.00179.001.pdf
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