Youth travel: overlooked, lucrative market?
The overlooked but booming youth travel market in Canada shows diverse opportunities for tour operators, destinations and attractions, according to a new study.
The report suggests opportunities for “carefully, targeted marketing and innovative packaging” to generate interest in this market.
The study by the Youth Tourism Consortium of Canada (YTCC) identified a $12 billion, rapidly growing market.
“Despite Canada’s 201 economic hardships, SARS, an international recession, and post-September 11 slumps, the youth market is looking excellent. It’s a remarkable, good news story,” said Joel Marier, chairman of YTCC.
The study said that with similar demographic trends in the US, the study is applicable there as well.
Key findings of the study:
- The national and international youth market in Canada grew by 8% in 2003.
- Young people are traveling more frequently, farther from home, and at a younger age than before.
- Young travelers spend more money when they travel in groups.
“Until recently, the youth travel market has been largely overlooked — a lucrative secret for those that recognized it and mined it effectively,” the report said.
A factor tour operators and other travel providers have to consider in capturing this market is that young travelers are demanding and challenging.
“Although today’s youth are more affluent than their predecessors, they will shop around until they are satisfied that their herd-earned dollars are being well spent, and that their travel expectations will be met,” the study said.
Report by David Wilkening
David
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