Singaporeans are the most organised travellers, according to this Klook survey
Will you spend double your salary on a holiday?
Asia’s travel and experiences platform, Klook’s first regional trend report, has revealed that one in three Millennial and Gen Z travellers in Asia are willing to spend more than double their average monthly income US$1,069 (S$1,447) on their next holiday, which amounts to over US$2,000 (S$2,708).
The findings were conducted through market research and public polling platform, Milieu, surveying a total of 2,400 respondents across 12 markets, including Hong Kong, Taiwan, Singapore, Malaysia, Philippines, Thailand, Vietnam, South Korea, Japan, Australia, Mainland China and India.
What does the new generation consider for travel nowadays?
1) Experiences
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As travel becomes more intentional, most travellers also prioritise experiences and make them a focal point of their trip, with 63% booking their experiences before they fly.
More than 90% of Millennials and Gen Zs emphasise unique and memorable experiences during their travels, with 85% signalling a willingness to invest in them during their holiday. Notably, travellers 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.
Surprisingly, Gen Zs, who are just beginning to embark on their careers, are not far behind their Millennial counterparts in splurging on travel. 1 in 5 Gen Zs are willing to spend over US$3,000 (S$4,062), slightly trailing 1 in 4 Millennials who share the same sentiment. The biggest spenders across Asia Pacific emerge from Mainland China (58%) and Hong Kong (39%), taking the top spots in willingness to spend beyond US$3,000 (S$4,062) on their next holiday. More price-conscious travellers originate from India, Vietnam, and the Philippines, with the majority willing to spend below US$2,000 (S$2,708), still more than double their average monthly income.
2) What they see on social media
Social media is the top inspiration tool for Gen Z travellers, with more than half using the platform to discover new destinations and experiences, favouring 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 travellers seek information.
In fact, 9 out of 10 millennials and Gen Zs check online reviews before booking and rely on travel content recommendations on social media when planning holidays. Findings show that creating social media-worthy content is of utmost importance for most travellers (87%), especially for travellers from India, the Philippines and Mainland China, and one of the main reasons for travel.
3) Millennials and Gen Zs are organised planners, opting for more intentional short-haul trips
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. Travellers ranking highest in this bracket come from Singapore (74%) and Australia (57%), while nearly half of travellers from Mainland China, Vietnam, and Thailand prefer to make holiday plans in less than two months.
Millennials and Gen Zs are increasingly opting to travel closer to home domestically (60%) and within Asia Pacific (30%). The top 3 destinations on the travel wish list are Japan, Thailand and Singapore. These findings indicate a rising trend of younger explorers focusing on the desire to explore and seek new experiences over the actual destination itself.
Now, go forth and research, fellow Singaporeans!
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Book accommodations and activities here: Agoda | Booking.com | Klook | KKday | HotelsCombined | LuxuryEscapes
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