Insights into Millennial Business Travelers for Travel Managers
Business travel is changing.
As millennials and Gen Z-ers enter the workforce, the foundation of how business travel is booked, for how long, and how frequently is constantly evolving.
Millennials are accustomed to booking their own travel, directly on their mobile device, and with a range of services and options that were unknown to most business travelers and corporate travel program managers even a decade ago. They’re also going to get out of the office for at least one epic meal. Flour+Water in San Francisco, anyone?
These earlier-in-their-careers road warriors often view business travel as a perk, an excuse to get away from the office and explore a new city and/or culture. But that enthusiasm also creates challenges for travel managers. Corporate travel programs need to evolve to keep up with the expectations of these new business travelers.
Tasked with transforming the ‘how’ of business travel for all, we at TripActions are constantly looking at insights and data to learn how to better serve business travelers across the board.
The TripActions APAC team is diving deep on how Millennials and Gen Z’ers are changing the way we travel for work at our webinar on Thursday, August 29, at 2 pm AEST.
They’ll be exploring why modern business travel programs are crucial for company growth, how Millennials and Gen Z’ers are changing the way we travel for work, and how you can upgrade your business travel program to capitalize on both trends.
Always excited to learn more, however, we dove into Skift Research’s recently released report Millennial and Gen Z Traveler Survey 2019.
The Skift Research team surveyed thousands business travelers between 16 and 38 years old from the U.S., UK, Australia, China, and India. The result is an insightful look into travel planning behavior, air travel and accommodation booking behavior, and loyalty.
“There are many ways that Millennials are stereotyped (most of which stem from Western perceptions), but the thing that truly defines the generation is the fact that members of this cohort came of age during the ‘digital age’ and therefore have developed a reliance on technology that no generation before them had,” wrote Skift Research Analyst Meghan Carty.
Other travel industry stakeholders are eager to understand these up and coming travelers.
According to a 2018 survey, 75 percent of today’s new road warriors - here, ages 23 to 35 -see business travel as a major work perk, and 65 percent consider it a status symbol.
The survey also found that corporate travel booking remains confusing for millennial travelers. Almost half, or 43 percent, of respondents said they misunderstand what can be expensed and ultimately owe their company for personal expenses.
As corporate travel booking evolves, it will become more flexible and personalized. Advances in technology have delivered platforms that better serve Millennials' preferences and empower them to make better decisions.
Ultimately, travelers and their employers will be more efficient, optimize for greater growth, and get home with a smile on their face -- from a great experience booking travel, the travel itself, successful accomplishment of why they were traveling for work, and the other personal interests they got to satisfy while on the trip.
Want to learn more? Join TripActions’ webinar “A New Era of Business Travel: How to Modernise Your Business Travel Program” on Thursday, August 29, at 2 pm AEST.