Expedia and Egencia unveil The Future of Travel Report
Expedia and Egencia unveil The Future of Travel Report
- Global study into travel habits across generations
- Millennials blend business and leisure, are happy to share data to streamline travel and crave mobile devices for Business and Leisure Travel
October 2013 – Expedia and Egencia launch the Future of Travel report, an examination of business and leisure travel across five continents, with 8,535 adults quizzed on their travel habits, preferences and expectations. In addition, a variety of travel industry experts from across the world provided insight and analysis on the findings.
The Future of Travel report was commissioned to draw insights from generational and geographical differences regarding travel. At a time when the travel industry is experiencing a shift in geographical and technological focus (from PC to multi-platforms), the report specifically looks at how technology and new market demands will shape the travel industry.
The report explores Millennial travellers (travellers born between the early 80s and mid 90s) in detail to discover how Millennials will impact the travel landscape as they gain decision-making power at work and purchase power in their personal lives.
Key insights from the report for Ireland include:
- The Convergence of Business and Leisure Travel: Millenials are more likely to extend a business trip into a personal holiday than older employees are. 37 % of Irish Millennials have done so, vs. 32% of those over 35.
- Spending Company Money: Almost a third of Irish Millenials (32%) admit that they are more careful with spending money on their own personal trips than company business trips, vs. only 19% of over 35s.
- Data sharing: 69% of Irish Millennial respondents save data (such as passport details, credit card information and contact details) online to streamline the travel booking process, compared to only 51% of non-Millennials. 45% of Irish Millennials would be more likely to save data if they were offered incentives like discounts, loyalty points or free upgrades vs only 27% of over 35s.
- Reviews: 80% of Irish Millennials believe that travel reviews are important for leisure travel, compared to 75% of non-Millennial travellers. Furthermore, 72% of Millennials agree this is also important for Business travel, compared to just 67% of non-Millennials.
Gary Morrison, SVP and Head of Retail, Expedia Worldwide commented: “On the cusp of a technological revolution for the travel industry, we wanted to take a deeper look at how we can better address and anticipate the evolving needs of this Millennial generation. The importance of mobile to these travellers is already having a huge impact on travel booking. For Expedia, that has meant a new responsive design approach. By anticipating and preparing for new trends, we continue to support and delight travellers. With our unparalleled insight into emerging travel patterns, together with the technology and expertise to respond fast, we will continue to do so well into the future.”
Rob Greyber, President of Egencia added in regards to business travel: “Millennials want to travel smarter and adopt new technology faster. Technology is accelerating this trend by making business travel ‘personal’ again. By providing contextualized, multiplatform travel solutions and services on the go, like Egencia TripNavigator®, we are directly supporting the future traveller’s need for speed, flexibility and instant access to global travel content.”
The full Future of Travel report will be available online from Wednesday 16 October 2013 via the Expedia.co.uk blog www.expediablog.co.uk/The-Future-of-Travel
Notes to editors:
For more information or to see a copy of the full report, please contact a member of the team.
Additionally, if you would like to set up a time to discuss any element of the report with an Expedia or Egencia spokesperson, please contact a member of the team.
Expedia Press Office
Ellen Ryan /T: 01 6188 409 / E: Ellen.firstname.lastname@example.org
+ 44 20 7395 7151
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About Egencia, an Expedia, Inc. company
Egencia is a leading full-service travel management company (TMC) delivering innovative business travel technology and expert local service to over 10,000 clientsin more than 50 countries around the world. As part of the Expedia, Inc. group, (NASDAQ: EXPE), the world's largest travel marketplace, we provide forward-looking solutions that allow our customers to drive compliance and cost savings in their travel programmes, while meeting the needs and requirements of the modern business traveller. Egencia celebrated its tenth anniversary in 2012, and is today one of largest TMCs in the world. For more information please visit us at www.egencia.co.uk or connect with us on Twitter @Egencia_UK.