Aylin Bahar - Sep 03, 2019

Latest technology, starting from social media to applications, crypto money and virtual reality, has radically changed our lives. The wave of these developments has undoubtedly forced the travel industry to change and keep pace with the “new generation travelers” whose number is increasing each year.

Experience economy:

Millennials have a different understanding of travel comparing to past generations. They want to explore, they want to be spontaneous. Travel packages that include transportation, accommodation, transfer, eating, drinking are no more fancy. Travel should be done at any time, any season, even at a weekend or for a few days, and that can be repeated at least several times a year. For Millennials, collecting unforgettable memories is far more valuable than buying a souvenir wherever they go. Experience is the most important keyword of the trip itself. Whether they want to explore the unknown, whether sightseeing, cultural, natural, artistic or culinary, they always seek local experiences away from the cliché. The future travel trend is personalization. Everyone has different interests: All travelers will be able to plan their travels according to their personal tastes and enjoy the experiences appropriate to their personalities.

Social Media Effect:

Travel and social media are an endless cycle that feeds each other constantly. 87 percent of the millennials are inspired by Facebook and Instagram, 74 percent of travelers use social media while on vacation, and 97 percent post their experiences on social media.
Social media is the most powerful source of today where the traveler can tell his/her unique experience and story to the world. We live at a time when almost every moment of our lives is digitalized and millennials are at the forefront of this transformation. 70% of Millennials prefer to lose their wallets rather than lose their mobile phone, because a mobile phone represents a person’s life keys (applications, services), the connection to people around and collected unique experiences.

Decreasing costs and increasing opportunities:

85 percent of Millennials check multiple sites before booking to get the best deals. Low cost airlines are the step one to reach their destination. A Millennial may hesitate about expensive transportation costs, but travel is inevitable when flight tickets are extremely affordable. Alternative accommodation platforms such as Airbnb and Couchsurfing turn impossible to possible for Millennials.

New ways of life and business:

Taking advantage of the potential that remote working has created, many people have seen it as an opportunity to travel the world and living for some amount of time in different countries. Every year number of “digital nomads” increasing extremly. According to Global Workplace Analytics, the remote workforce has grown by 159% since 2005, and remote workers will be 50% of the entire workforce by 2020.
In addition to remote workers, many people earn money from travel blogging. Instagram triggered new jobs in the new world.

What awaits the travel industry?

According to the International Air Transport Association (IATA), in 2016 there were a staggering 3.8 billion air travelers, it will increase up to 7.2 billion passengers by 2035—a near doubling of current levels.
It is a fact that in such growth the players who cannot develop new smart services – which understand the new generations expectations, instant developments and opportunities- will not exist in the future.
However, technology alone will not be enough to broaden the experience of the traveler. Understanding the personal needs and expectations of the traveler, developing products corresponding to their worries, whether based on technology or not, will be more important than anything. Technology can simplify and even eliminate processes, but it will not be enough to enhance the journey of the millennials unless it is based on an ideology. Contentment should be the base of every product, service and process to be designed in travel ecosystem. Because whether he/she sleeps in a couch or ascends to a hill that has never been exited, or finds a flight ticket for 6 euros, traveler thinks that contentment is a right.