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Baby Boomers versus Millennials - March 2017

“In addressing the question about which market is more important – Baby Boomers versus Millennials – the travel industry needs to take into account lifestyle factors that impact both markets. For Boomers these include: greater longevity due to improvements in health care juxtaposed with chronic health problems that are being exacerbated by unhealthy lifestyles. For the Millennial generation, higher birth rates (particularly in China where the government has ditched its one-child policy), as well as ever diverse needs and desires will come into play. Millennials are also likely to have longer working lives – either as a result of increases to statutory retirement age or due to financial necessity.”

- Jessica Kelly, Senior Tourism Analyst

This report will cover the following areas:

  • Who are the Baby Boomer and Millennial travellers?
  • What are the holiday preferences of the Baby Boomer and Millennial sectors?
  • How do these divergent generational groups use technology and social media within the travel and tourism arena?
  • What impact are disruptive models of travel and tourism having on Baby Boomers and Millennials?
  • What does the future look like for Baby Boomer and Millennial travellers?
  • How can travel and tourism enterprises meet the needs of both the Baby Boomer and Millennial generation?

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Table of contents

  1. Introduction

    • Data Sources

      • Overview

          • Market drivers
            • Expansion of the global tourism industry
              • Figure 1: International tourism arrivals, 1990-2030
              • Figure 2: Outbound travel & tourism expenditure*, 1995-2025
            • Population change
              • Figure 3: Mid-year population, world, 1950-2050
            • Greater propensity to travel
              • Figure 4: Gross propensity to travel, worldwide, 1990-2030
              • Figure 5: Propensity to travel in the top 5 outbound travel markets, 2015
              • Figure 6: Outbound travel & tourism expenditure*, BRIC nations, 2017-27
            • Global economic growth
              • Figure 7: World economic indicators, 1980, 1990, 2000 & 2010-17
            • Cultural change
            • Baby Boomer Travel & Tourism Segment

                • Market size
                  • Figure 8: Mid-year population by 5-year age groups, 2017, 2027 & 2037
                • Market characteristics
                  • Nationality
                    • Figure 9: Top 10 outbound tourism markets, by expenditure*, 2014-17
                    • Figure 10: International departures from the top 10 outbound tourism markets*, 2014-17
                    • Figure 11: Baby Boomer population* in top 10 outbound travel markets, 2017
                  • Socio-economic demographics
                    • Household wealth and income
                      • Figure 12: Share of individuals, by age group, living in households sorted by total household wealth band, 2008-10
                      • Figure 13: Income & earnings summary measures, by age of householder, 2015
                    • Travel behaviour
                      • Key destinations
                        • Figure 14: World’s leading tourism destinations, by arrivals, 2014-17
                        • Figure 15: World’s leading tourism destinations, by expenditure, 2014-17
                      • Travel motivation
                        • Planning and booking behaviours
                          • Figure 16: Internet use in the last 12 months, 2007-16
                        • Technology Baby Boomers versus Millennials
                          • Figure 17: Personal ownership of consumer technology products, by demographics, September 2016
                          • Figure 18: Mobile-phone handsets, by volume, 2008-17
                        • Value to the travel and tourism industry
                        • Millennial Travel & Tourism Segment

                            • Market size
                              • Market characteristics
                                • Nationality
                                  • Figure 19: Millennials* in top 10 outbound travel markets, 2017
                                • Socio-economic demographics
                                  • Household wealth and income
                                    • Travel behaviour
                                      • Key destinations
                                        • Travel motivation
                                          • Planning and booking behaviours
                                            • Technology and Millennial travellers
                                              • Value to the travel and tourism industry
                                              • Social Media and Travel: Baby Boomers versus Millennials

                                                  • Figure 20: Social & media networks used by age, UK, March 2016
                                                • China’s emerging market
                                                • The Travel-sharing Economy: Baby Boomers versus Millennials

                                                  • Market Insights: Baby Boomers

                                                    • US
                                                      • Figure 21: US outbound travel, by region, January-November 2016
                                                    • China
                                                        • Figure 22: Consumer planning for holidays in the coming 12 months, October 2014
                                                      • UK
                                                      • Market Insights: Millennials

                                                        • US
                                                          • Figure 23: Travel in the last 12 months – type & destination, by older & younger Millennials, February 2016
                                                        • China
                                                            • Figure 24: Destination of outbound travel, September 2016
                                                          • UK
                                                          • Marketing to Boomers and Millennials

                                                              • Targeting Baby Boomers
                                                                • Stride Travel
                                                                  • WYZA
                                                                    • Targeting the Millennials
                                                                      • InternOnAMission
                                                                        • Discover LA
                                                                          • TravelBrilliantly
                                                                          • What Next?

                                                                              • Changing socio-economic demographics
                                                                                • Diversification
                                                                                  • Curated travel
                                                                                    • Technology and social media
                                                                                      • Destinations
                                                                                        • Africa
                                                                                          • Asia
                                                                                            • Cuba
                                                                                              • Europe
                                                                                                • UK

                                                                                                Companies Covered

                                                                                                To learn more about the companies covered in this report please contact us.

                                                                                                Baby Boomers versus Millennials - March 2017

                                                                                                US $391.67 (Excl.Tax)