For Millennials and Gen Z travelers in the Asia Pacific (APAC) region, the charm of travel no longer lies in merely crossing destinations off a bucket list. The allure has shifted, and now it’s about living the experience. According to the latest findings by Klook, the leading travel and experiences platform, experiences have taken the center stage, even overshadowing accommodation and flight considerations for the next-gen travelers.
Spending Big on Memorable Adventures
An eye-opening revelation from Klook’s survey indicates that 1 in 3 Millennial and Gen Z travelers are willing to invest over double their average monthly income in Asia (US$1,069) on their forthcoming holiday, totaling a stunning US$2,000 and beyond. Eric Gnock Fah, COO and co-founder of Klook, eloquently notes the emergence of experiences as the “new coveted currency” for contemporary travelers, emphasizing the significance of unique activities and authentic experiences in their plans.
A Paradigm Shift towards Unique Experiences
The shift is remarkable, with 63% of travelers booking experiences before even flying and more than 90% emphasizing the importance of unique and memorable undertakings. The top spenders across the Asia Pacific region are Thailand, Vietnam, Mainland China, and India, with a pronounced willingness to explore nature and immerse in cultural phenomena like island tours and historical sites.
Even the younger Gen Z, fresh in their careers, is not shying away from travel splurges, with 1 in 5 ready to shell out over US$3,000. The big spenders predominantly hail from Mainland China and Hong Kong, showcasing the region’s changing travel psyche.
Social Media – The New Compass for Travel Planning
Surpassing traditional sources, social media is emerging as the go-to tool for holiday inspiration for Gen Z travelers, with over half of them relying on platforms like Instagram and TikTok for discovering new locations. Even though Millennials still largely utilize search engines, the rising sway of social media cannot be ignored.
“The rise of social media as a travel inspiration and planning tool is largely due to their interactive nature,” affirms Eric Gnock Fah, underlining the dynamic influence of authentic storytelling and personalized real-time recommendations on younger travelers.
Intentional Planning and Regional Exploration
Interestingly, the majority of Millennials and Gen Z across Asia Pacific are becoming intentional travel planners. There is a notable inclination towards domestic travels and short-haul trips within the region. Japan, Thailand, and Singapore top the wish list, reflecting a growing trend to explore and seek new experiences rather than sticking to conventional destinations.
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A New Chapter in Travel
The findings from Klook’s Travel Pulse survey highlight a transformative phase in the way Millennials and Gen Z travelers approach holidays. It’s a wave that’s shifting the focus from mere sightseeing to meaningful exploration and connection. This exclusive insight only underscores the continually evolving nature of travel and tourism, heralding a new era where experiences reign supreme.