A survey conducted by Marriott Bonvoy, the renowned travel program of Marriott International, reveals that a significant number of Gen Zs and Millennials in Asia Pacific excluding China (APEC) are inclined towards the simplicity of being part of a single comprehensive loyalty travel program.
Among the findings, it was observed that while 60% of APEC Gen Zs and Millennials actively participate in loyalty programs, a majority (57%) express a preference for a single program that fulfils all their travel needs. Marriott Bonvoy conducted this survey across ten markets in APEC, aiming to gain insights into the evolving attitudes and behaviours of Millennials and Gen Zs towards travel. The survey identified a rising generation of travel-centric, value-conscious individuals dubbed “Savvy Explorers” in APEC who strive to maximize their travel experiences while optimizing their spending.
In 2024, travel remains a top priority for Gen Zs and Millennials, with 73% expressing their intention to take at least two trips in the next 12 months. Furthermore, 91% plan to maintain or increase their travel expenditure compared to the previous year, underscoring the significance of travel as an integral aspect of their lifestyle. Many are willing to adjust their everyday spending habits, with 60% willing to cut back on dining out, 57% on shopping sprees, and 54% on daily coffee expenses to allocate more funds towards travel.
Mr. John Toomey, Marriott International’s Chief Sales and Marketing Officer for Asia Pacific excluding China, comments on the survey results, stating, “The findings suggest that Gen Zs and Millennials in APEC are strategically leveraging their everyday spending to extract value for rewarding travel experiences. They also display a clear preference for belonging to a single, all-encompassing loyalty travel program that caters to their needs. In this regard, Marriott Bonvoy, with its access to over 30 brands in 10,000 destinations, is well-positioned to deliver greater value and unlock more experiences for Gen Zs and Millennials.”
Toomey further reveals encouraging statistics regarding Marriott Bonvoy’s performance in APEC, noting a membership growth of over 50% since 2019. He highlights the program’s active engagement, with members earning 40% more points in 2023 compared to the previous year. Additionally, points redemptions surged by over 55% during the same period.
The trend of increased member growth and engagement extends to the Marriott Bonvoy app, with APEC member enrollments via digital channels witnessing a growth of more than 25%. Moreover, mobile app downloads and active users more than doubled in 2023 compared to pre-pandemic levels.
The regional survey also unveiled noteworthy trends among Gen Zs and Millennials across the ten APEC countries. Detailed insights into market-specific trends can be found in Annex A of the survey.
Overall, the survey underscores the strategic approach of Gen Zs and Millennials in APEC towards extracting value from their everyday spending for enhanced travel experiences. With Marriott Bonvoy positioned as a preferred loyalty travel program, it stands ready to cater to the evolving needs and preferences of this dynamic demographic, offering unparalleled opportunities for travel and exploration.
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