New market research has revealed just how keen Millennials and Gen Z are on business travel, as well as what they prioritise when booking their travel—and their desire to book it themselves.
Corporate Travel Management, CTM, gathered data from 702 Millennial and Gen Z employees earlier this year to uncover what’s trending in this sector, with the key finding for travel agents being that some 59% of all respondents book their own travel. The somewhat good news is while there wasn’t New Zealand data, the Australian data shows the country had the lowest number of self-bookers at just 53%, compared to the UK which has the highest number of self-bookers at 66%.
. . . Desire For Travel
The data is more positive when it comes to desire for travel, with 57% of respondents saying that business travel is ‘very important’ to their career progression, 55% would like to travel more for business, and 70% expect the importance of business travel to increase in line with their professional experience and seniority. Also boosting travel desire is this market’s focus on leisure, with some 42% of Millennial and Gen Z business travellers always, or usually, adding a leisure extension to their business trip.
. . . Wants
When booking an airline, these generations list price, convenience and reliability as the top factors; while for accommodation the key factors were location, a 24/7 reception and on-site fitness/wellness facilities. And while sustainability was not in the top three criteria lists for any region when choosing airlines or accommodation, 55% stated that sustainability is a consideration when booking flights, with 51% noting sustainability for booking hotels. However, 57% say they expect their employer to pay a premium for sustainable business travel services.
See more on the report HERE.
