The forecast looks sunny for the hospitality industry. According to analysts at Ernst & Young (EY), we’re looking at a 3.9% growth for the travel and tourism industry in 2015. Fortunately for hoteliers and hostel owners worldwide, unlike other industries, travel seems less tied to U.S. interest rates and the greater global economy. In fact, the travel industry bounced back quickly after the global financial crises in 2008.
Considering that travel and tourism comprises 9.5% of the global gross domestic product (GDP)—with a whopping 1.3 million guest lodgings available worldwide—there’s a lot of money to be made in this sector. However, the path to tourism riches is no longer guaranteed by good word of mouth and a limited web presence. Specifically, millennials (kids of the 1990s) are driving this tourism growth, and these quarter-lifers like mobile apps.
Millennials like flexibility and are willing to travel light without the need for fancy lobbies and hotel restaurants. For these buyers, meals-on-the go and pay-as-you go amenities (who needs all that soap anyway?) are preferred to a hotel bill heavy on the incidentals. After all, for millennials, the fun happens outside of the hotel.
Rest assured, with mobile apps, it’s possible to tap into the whims, wishes, and fancies of your potential clients. Here are a few apps that have become indispensable to the millennial on the move.
Although many people have their gripes about Uber, this car-summoning service is most convenient in a variety of foreign locales. Uber offers excellent support to its global clientele whether it be in the Americas, Asia, or Europe. In other words, when you use Uber, you are assured a ride.
What’s more experiential than travelling cross country? Of course when travelling cross country, nobody wants to get fleeced on gas … enter GasBuddy. GasBuddy boasts gas prices from 130,000 stations throughout North America. Unfortunately, no telling yet if (when) Europe will be getting GasBuddy.
Everybody likes one-stop shopping, and virtual buyers are no different. Established in 2010, Hipmunk searches an impressive array of travel services from Amtrak to Airbnb.
In 2015, Hipmunk conducted the Millenial Travel Habits Study for the second time. According to the survey, millennials will do some crazy things to save money, like stand on a flight to save money. And they won’t shell out extra cash for amenities that aren’t tech related. Here is a part of results:
Find full Millenial Travel Habits Study Infographics here.
For travelers on a budget, HostelWorld provides information on more than 35,000 hostels and budget hotels replete with over 3.5 million user reviews. Wherever you are in the world, use HostelWorld to geolocate your next budget stay.
Getting to your destination is only the beginning. After all, what do you do if you’re there? Gogobot helps you find cool places to eat, sleep and play in dozens of cities including Las Vegas, Los Angeles, and London.
If you haven’t already done so, you may want to look into a mobile app to give your travel or hospitality business a dynamic edge. According to Ernst & Young, “New advances in technology have created opportunities for hotels to drive operating efficiencies and engage with guests, from booking to checkout.” In other words, technology like mobile apps has created opportunities for tourism professionals worldwide to reap financial reward.