New Study Anticipates Travel X-factor for the 2020 Consumer

Over the next 15 years, an increase in consumer confidence coupled with a desire to satisfy individual tastes will significantly reshape vacation aspirations and frequency according to a new report published this week.

“The World of Travel in 2020” study, commissioned by global travel giant, Cendant Travel Distribution Services, predicts that travelers, young and old, will challenge traditional vacations as they seek, on average, up to four very different experiences a year.

A passion for “doing” rather than “having” will double the number of consumers flying by 2020. Choice of location and activities is expected to vary enormously as future travelers adopt a check-list mentality which entails buying a series of one-off experiential vacations.

Delivered by The Future Foundation, the report explores the attitudinal, social, economic, cultural and technological drivers that will affect consumers in key travel markets and shape the future of the global travel industry. Significant findings include:

According to the study, over the next 15 years people will increasingly want to be differentiated by what they do, not what they buy and this will drive a desire for experience- driven travel.

In their pursuit for individualism, consumers will look for new experiences such as controlled danger, unusual environments and cultures, personal or physical improvement and emotional development. They will not, however, wish to revisit the same place. Loyalty to a travel supplier will be driven by an intermediary´s ability to deliver a fresh stream of one-off experimental vacations.

In response, travel companies will have to redefine their luxury offers. For example, the study points to an expected increase in authentic cultural encounters as more consumers look for the opportunity to experience different cultures first hand.