Klook Survey Highlights Latest Travel Trends of Millennials and Gen Zs in Asia Pacific

Dark/Light Mode (17/08/23)  According to a survey conducted by the travel and experiences platform Klook, travel is no longer about crossing destinations off a checklist for Millennials and Gen Zs in Asia Pacific, instead experiences are now the first consideration factor when planning for a holiday, trumping accommodation and flight options for this group, and they’re willing to spend on it too.

As travel becomes more intentional, a majority of travelers are also prioritizing experiences and making them a focal point of their trip, with 63% booking their experiences before they fly.

More than 90% of Millennials and Gen Zs place importance on unique and memorable experiences during their travels, with 85% signaling a willingness to invest in them during their holiday.

Notably, travelers from Thailand, Vietnam, Mainland China, and India lead the pack across Asia Pacific, with a strong desire to spend more on nature and outdoor experiences like island tours, and cultural experiences such as visiting historical sites.

Traveller spending insights from Klook Travel Trends Report 2023

Surprisingly, Gen Zs, who are just beginning to embark on their careers, are not far behind their Millennial counterparts in splurging on travel.

One in five Gen Zs are willing to spend over US$3,000, slightly trailing one in four Millennials who share the same sentiment. One in three Millennial and Gen Z travelers are also willing to spend at least US$2,000 on their next holiday, according to the survey.

The biggest spenders across Asia Pacific are from Mainland China (58%) and Hong Kong (39%), taking the top spots in willingness to spend beyond US$3,000 on their next holiday.

More price-conscious travelers originate from India, Vietnam and Philippines with the majority willing to up to US$2,000.

“Embracing a new era of travel, experiences have emerged as a new coveted currency for the next generation of travelers, particularly among Millennials and Gen Zs,” said Eric Gnock Fah, COO and Co-Founder of Klook. “Unique experiences and activities take precedence in their travel plans as the first thing they look at, with 85% of travelers willing to invest in experiences during their holidays. This remarkable shift is a testament to their increasing desire for authentic experiences, with their decisions fueled by social media over traditional sources like search engines and travel guides before embarking on their next travel adventure.”

Social media is the top inspiration tool for Gen Z travelers, with more than half using the platform to discover new destinations and experiences, favoring it over search engines and travel guides.

While Millennials still prefer to use search engines (59%), social media comes a very close second (55%) indicating its rising influence over how travelers seek out information.

In fact, 90% of millennials and Gen Zs check online reviews before making their bookings, and rely on travel content recommendations on social media when planning holidays.

Findings also show that creating social media-worthy content is of utmost importance for a large majority of travelers (87%), especially for travelers from India, Philippines and Mainland China, and one of the main reasons for travel.

“The rise of social media as a travel inspiration and planning tool is largely due to their interactive nature, especially with short-form videos and mobile apps,” added Eric Gnock Fah. "It has undeniably become a powerful and dynamic source of travel inspiration among Millennials and Gen Zs. This lies in its ability to offer authentic storytelling and personalized real-time recommendations. This paradigm shift is indicative for the demographic's desire for meaningful connections and seamless exploration.”

The majority of Millennials and Gen Zs across Asia Pacific are becoming more intentional travel planners, with 65% planning their holidays at least two to six months in advance.

Travelers ranking highest among this bracket come from Singapore (74%) and Australia (57%), while nearly half of travelers from Mainland China, Vietnam and Thailand prefer to make holiday plans in less than two months.

Additionally, Millennials and Gen Zs are increasingly opting to travel closer to home domestically (60%) and within Asia Pacific (30%) - with the top three destinations on the travel wish list being Japan, Thailand and Singapore.

Methodology

Conducted through market research and public polling platform, Milieu, a total of 2,400 respondents were surveyed across 12 markets, including Australia, China (Mainland), Hong Kong SAR, India, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.

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