About Millennials Travel
Millennials travel is the tourism service designed for the millennial. Millennials are referred to as a generation that is completely redefining what adventure means and looking at the world through a more global perspective. It provides local as well as international trip plans for the people who want to explore the world. This travel offers two types of services such as online travel service and offline travel service. Thus, the demand for restoring disaster creating huge calling for these services and eventually for the market. However, huge numbers of services providers known as one of the keen challenge. Geographically, North American region is forecasted to grow with a higher growth rate than Asia Pacific and the Europe region. Occurrence of natural calamities like hurricanes are higher across the North American region which further creating growth opportunities for players in a fruitful manner.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Market players are focusing on providing millennials travel with providing number of premium services to fascinate more end users. They are also focusing on the introduction of numerous advanced & attractive features. The market is fragmented owing to the presence of several international and domestic providers. Besides, the numerous industry profitability has led the entry of new players, in turn, increasing the level of rivalry in the already competitive market. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Millennials Travel market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Contiki (United States), FOR THE LOVE OF TRAVEL (United States), Under30Experiences (United States), TRAVENDLY (United States), G Adventures (Canada), Topdeck Travel Limited (United Kingdom), Flash Pack Travel (United Kingdom), Intrepid Group (Australia), EF Education First (United States) and Tentrr (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Millennials Travel market by and Region.
On the basis of geography, the market of Millennials Travel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Travel, the sub-segment i.e. Leisure Travel {Short Breaks, City Breaks, Countryside Breaks, Holidays Etc.} will boost the Millennials Travel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Trip, the sub-segment i.e. Local Trips will boost the Millennials Travel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Services , the sub-segment i.e. Online Travel Service will boost the Millennials Travel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Popularity Of International Trip For Personal Growth And Life Experience
Market Growth Drivers:
Increasing Desire To See The World Among The Youths and Growing Demand for Outdoors Adventure Camping
Challenges:
Market Presence with Numerous Players Pose a Challenge for Millennial Travel and High Cost of Trip Hindering The Millennial Travel Market
Restraints:
Lack of Awareness about Millennial Travel May Restraints the Growth
Opportunities:
Increasing Love to Travel Among The Millennials Leads in Growth of Millennial Travel Market
Market Leaders and their expansionary development strategies
In October 2021, Ennismore and Accor completed merger with adding three prestigious brands – Fairmont, Raffles and Swissôtel to the company's portfolio and great step for AccorHotels. With these merger, company is able to robust leadership in luxury hotels with the geographical reach and with greater potential. The portfolio includes more than 80 global operating properties across the different regions and different brands.
In January 2022, Contiki has introduced Detour, a new series of 18 locally hosted, short break adventures to its range of worldwide trips. Detour Mini Adventures by Contiki is a new travel style comprising small group with an opportunity to learn something new. With this launch, company has innovated this new range to anticipate and meet the needs of diverse millennial and Gen Z audiences.
Key Target Audience
Millennial Travel Service Providers, Research and Development Institutes, Millennial Travel Potential Investors, Industry Associations, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.