Virtuoso® Explores the Impact on Travel of Three Key Generations: Boomers, Generation X and Millennials - Hospitality Net

Virtuoso®, the global network renowned for creating meaningful experiences in luxury travel, has unveiled findings from its two-plus-year study on the differences and commonalities between Baby Boomers, Generation X and Millennials. Virtuoso's Innovation Teams were responsible for this psychographic exploration, which included multiple deep-dive sessions between three worldwide generational groupings of Virtuoso travel advisors, preferred travel providers and the organisation's own staff, and determined how each generation approaches travel, work, and life in general. The fascinating findings were first shared during Virtuoso's 2022 Symposium, held last month in Lisbon, Portugal.

BABY BOOMERS

Baby Boomers, representing the post-WWII generation born between 1946 and 1964, were the first backpackers as well as the original workaholics. They traveled like no generation before, be it through student exchange programs, the Peace Corps or on military assignments, before rechanneling their energies into their careers. The Boomers' love of exploration continues to this day, and they have the time and money to travel, albeit at an easier pace and with an eye to health and mobility issues. They value the "leave only footprints" style of travel, almost as much as they do the professional guidance and firsthand experience of a trusted travel advisor. And they tend to prefer small, private groups for travel (think multigenerational trips), river cruising and the big, Wanderlist®-type trips that they've not been able to take for the past two years.

GENERATION X

Generation X, often referred to as the forgotten generation largely due to its smaller size, refers to those born between 1965 and 1980. This group has a natural distrust of authority based on a rise in divorce during their childhood years, two recessions, political controversies, the Cold War and the AIDS epidemic; however, it has also led to extreme loyalty to those entities and individuals who do earn their trust, like their travel advisor. Gen-Xers tend to travel less than other generations due to hectic schedules, but they outspend their counterparts when they do. Their children inform their travel decisions, often picking the destination and, more importantly, the experiences. They also want smart luxury and are willing to pay for service, but they favor authenticity above all else. For Generation X, it's the micro-moments and not just the milestones that stand out.

MILLENNIALS

Born between 1981 and 1996, Millennials have grown into adulthood and now comprise the largest percentage of the workforce. After coming of age during a time of profound change, from 9/11 to the Great Recession, Millennials were shaped by the world and culture they grew up in. They tend to be entrepreneurial minded, seeking freedom and have fully embraced the "work from anywhere" philosophy created by the pandemic. Viewed as a crucial part of their lives, travel enriches their existence and allows them to explore other cultures, and it takes priority for both their leisure time and discretionary income. They eschew the word "luxury," while in search of immersive, unique experiences. Millennial travel may be inspired by social media, but sustainability is a guidepost for their travel decisions. Despite favoring electronic communication to voice, they do turn to professional travel advisors for their connections and expertise. Wherever Millennials choose to venture, it needs to reflect who they are as individuals and what they value.

Virtuoso's generational research is an ongoing project. For more information on Virtuoso and its industry research, please visit www.virtuoso.com.

About Virtuoso

Virtuoso® is the leading global travel agency network specializing in luxury and experiential travel. This by-invitation-only organization comprises over 1,200 travel agency locations with more than 20,000 travel advisors in over 50 countries throughout North America, Latin America, the Caribbean, Europe, Asia-Pacific, Africa and the Middle East. Drawing upon its preferred relationships with more than 2,200 of the world"s best hotels and resorts, cruise lines, airlines, tour companies and premier destinations, the network provides its upscale clientele with exclusive amenities, rare experiences and privileged access. Normalized annual sales of (U.S.) $25–$30 billion make Virtuoso a powerhouse in the luxury travel industry. For more information, visit www.virtuoso.com.