Millennials prefer package holidays: WTM report
Twice as many under 25s (millennials) surveyed will opt for a package holiday (55 per cent) than those who are 55 and over (26 per cent), according to the stats, proving that older is not necessarily wiser when it comes to being prepared for the unexpected in a Covid-19 world.
Nearly 38 per cent of people are planning to book 2021 overseas holiday this year with the Global Travel Taskforce report announced on April 12.
The WTM London research shows 25 per cent of respondents are ONLY interested in taking a holiday abroad, while 13 per cent plan to take both an overseas vacation AND a staycation after months of being stuck at home.
Of the remainder, 40 per cent are planning a UK-based holiday, with 21 per cent are not planning a holiday at all.
The age groups that is most holding out a holiday abroad, and therefore the most likely to book, are the 16-24s (32 per cent of whom can’t wait to go abroad this year); followed by the 25-34s (29 per cent); the 35-44s (28 per cent) and the 45-54s (25 per cent).
By contrast, the number of people in the 55+ age group who are holding out for an overseas holiday is just one in five (21 per cent).
The package holiday seems to be making a resurgence among the under 45s, with younger people being more cautious, perhaps because of concerns over losing money or finding it difficult to rebook if COVID-19 forces travel plans to change.
In fact, the under 25s surveyed are more than twice as likely to choose a package than those aged 55 and over.
Over half (55 per cent) of 16–24-year-olds, 26–34-year-olds (52 per cent) and 35-44-year-olds (51 per cent) are most likely to book a package holiday. This compares to just 25 per cent of those aged 55+ who would book a package. Two-thirds of those aged 55+ (66 per cent) are more inclined to take a risk and book each element separately.
This compares to 41 per cent of the Brits say they are more likely to choose the package holiday option if they travel this year. However, 57 per cent say they will still book each element independently.
The research also shows that more women are likely to book a package holiday than men (46 per cent to 35 per cent).