6. Millennials and Disruptive Innovation

Another megatrend that was identified in the Preface of this book is the Global Code that will be the domain of millennials of Generation Y (25–35 year olds) which would constitute 34% of global population in 2020. They are now identified as The Global Tribe who would be in constant travel across the globe in the years to come. Millennials are the largest generation with a population of 79 million in the United States. (also known as the Gypsy Tribe or Satellite Tribe) are the tech savvy young who are plugged in throughout the day to social media and the internet. They relentlessly need connectivity. In 2036 they could amount to 81.1 million, according to the Pew Research Centre. They are the ones who mostly use the travel apps discussed in a previous chapter. They have income to spare and treat travel almost as a daily part of their lives. Millennials travel patterns have been identified as follow: “85% of millennials check multiple sites before booking their travel to get the best deal possible; 46% book travel through a smartphone or tablet; 60% will upgrade their travel experience by purchasing in-flight wi-fi, early deplaning, etc. They WILL post their experiences on social media. In fact, 97% will post while traveling, and 75% will post once a day. That’s a lot of social activity. 68% will remain loyal to a program that offers them the most rewards; Cash/Freebies’; Upgrades; Discounts”.