Millenial Money

How Airlines can benefit from the Millennial Travel Lifestyle

To many millennials, the desire to travel the world and see all its beauty has transformed from being a luxury to a need in the digital age. We are haunted by thoughts of sun drenched elsewhere and for most, this takes over a large % of the entertainment allowance. It is estimated that by the year 2020, millennial travel will be an industry worth 1.4 trillion USD. With such numbers, the millennials are a highly essential niche market for the airline industry. Nowadays millennials would rather work their asses off not to go to the latest party but to have more wanderlust bragging rights so to speak. There is also a rise is business-leisure with many of the people in this age bracket taking advantage of the few responsibilities to work out of their comfort zones. Another reason fro the burst in millennial travel is the new found squad goals craze with friends pushing each other to add more enriching experiences to their life’s journey.

In 2014, Forbes reported that by 2020, 320 mn international trips will be made by young travellers each year. The millennial generation is growing up in a technologically advanced world where travelling and communication go hand in hand and are easier than ever before.Such insights are kind that a future oriented airline would take advantage of as it is clearly the future of air travel. This has been made easier by the ease of information sharing on different destinations, the ability to book flights on mobile devices, fewer visa restrictions.

So what does this new travel lifestyle and culture mean for airlines? Millennial lifestyles and expectations are reshaping the travel industry. Hotels need to adapt too with most services being automated as most appreciate the availability of services such as as Wi-fi and mini-bars. Airlines can capitalize on this market estimated to have a growth rate trajectory of more than 80% by providing cheaper and more wholesome packages that cater to generation Y without too many resources at their disposal but a hunger to travel in groups. More partnerships will come up between airlines, hotels, food retailers and shopping outlets as well as tour agencies to create the ultimate travel experience for a 20-something at affordable rates.

With an ailing airline industry in Kenya and a youth hungry for adventure and the popularisation of #TembeaKenya, it makes sense why there are so many tours and travels agencies coming up. The key it so seamlessly merge these supporting industries to grow an industry whose growth is paramount to shaping the future of travel in the country

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My mission is to help you (and myself) exploit these opportunities and break free: launch a business, start a charity, travel the world and read as many books as is humanly possible!

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