Millennials Prize Experiences. Now So Do Travel Companies

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Heard on the Street: Millennial travelers prefer to spend on adventures rather than upscale hotel rooms. Can travel companies cash in on the trend?

According to McKinsey & Company and the U.S. Bureau of Economic Analysis, over the past few years, overall experience-related spending has grown at more than 1.5 times the pace of personal consumption and four times faster than expenditures on goods.

This growth is led by millennials,...
 

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by 'Travel Companies' I hope you don't mean 'Travel Agencies' because that field of business is dead, Millenials book accommodation, flights, buses, practically everything online

So do old fat people! I’ll sleep in a shack I don’t care

It’s wonderful that people have finally figured out what matters. It’s sad that they overrun the best places with litter, tour buses and the like.

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