Millennials use cryptocurrency to pay for trips along with experiencing AR/VR (Augmented Reality/Virtual Reality), compared tp Gen Z and Gen X, as travel recuperates, US digital consulting company Publicis Sapient said in a new study.
The study was conducted among 3,000 Gen Z (ages 18-25), Millennial (ages 26-40) and Gen X (ages 41-57) participants across the UAE, the United Kingdom, and the United States.
While all three age groups said their “top concern” was cost, Gen X was reported to be the age group that is least likely to open to paying with cryptocurrency and using AR/VR to experience a travel destination before they go.
Gen Z are “somewhat interested” in using virtual assets to make payments, the study said.
This comes as an advantage to the UAE, who has a robust tourism sector and a budding blockchain and cryptocurrency industry.
“UAE residents are travelling further and more frequently than other nations surveyed in our report,” Publicis Sapient’s group vice president, travel and hospitality, international markets, Nick Shay told Arabian Business.
The study also showed that Gen Z, which was the youngest group surveyed, would prefer the help of a human being to make bookings — such as a concierge, customer service or a travel agent.
“Quite surprising as one would expect Gen Z to be the most independent when it comes to booking online,” Shay said, adding this is a reminder that as the world becomes more digital, “understanding and accommodating human behaviour is as important as the technology itself.”
Other concerns, aside from cost, include safety, restrictions on travel, health concerns related to the pandemic, booking. flexibility, and sustainability — with travel priorities, differing across all three age groups.
Gen Z look forward to a “once-in-a-lifetime” experience, whereas Gen X is more disproportionately focused on trips that offer a “value for money.”
Millennials, on the other hand, look for “safe and secure” trips, with sustainability as a driving factor, in where they travel.
Despite varying preferences, all three age groups have “a desire to experience something different, with UAE residents more likely to seek out a new cultural experience than those coming from the US or the UK,” Publicis Sapient’s Shay said.
Gen Z, “takes shorter vacations on average,” while Gen X prefer “tried-and-true travel experiences, finding a good deal, and avoiding travel with COVID restrictions,” the study said.
Millenials, would much rather take trips to visit family and friends, as they were the most impacted by pandemic restrictions in 2019.
The impact of these restrictions were the key reason for millennials to resort to evolving technology in order to meet their travel needs and experiences, eventually.
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