Gen Z Prefers Cost-effective Accommodations: Report
Gen Z prefers three-star lodging, staying with friends or family, and luxury accommodations while travelling, as per the report titled "Youth of Today, Travel of Tomorrow" by market research firm YouGov.
While this market is very price-sensitive, the report said they were open to trying more upscale accommodations, which makes it extremely important for travel companies to offer this segment different types of accommodations.
The study found that among all the surveyed markets, Gen Z in Asian countries like Indonesia (57 per cent), Thailand (55 per cent) and Malaysia (54 per cent) are planning for domestic vacations in the next year. However, the keenness to travel abroad is overhead in European markets such as Germany (50 per cent), Denmark (47 per cent) and France (43 per cent).
Despite the fact that nearly a third of this younger group considers costs associated with travel (37 per cent) and accommodations (32 per cent) to be major stumbling blocks, this could be due to their price sensitivity, affecting their choice of affordable travel options.
Among global Gen Z travellers, referrals play a significant role in determining their travel destinations. Half of them make suggestions and recommendations from their family and friends due to which their decisions are influenced. After that, about 40 per cent ( two in five) look for reviews from others. Indian travellers tend to get more influence from the reviews as compared to global travellers. But both Indian Genz and global Genz equally get influenced by the recommendations from the family.
Digital natives, or Generation Z, rely more on technology than previous generations. In addition to communicating with each other, Gen Zs also interact with brands via social media. Globally, there are about nine in ten (88 per cent) Gen Z consumers who follow social media influencers. Almost one in five (19 per cent) of these consumers follow travel influencers.
