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The Importance Of Generation Y

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Generation Y is considered one of the most important markets in the tourism industry and it is predicted that their importance will increase in the next years (Parment, 2009; Pendergast, 2009; UNWTO, 2011). Therefore, this chapter aims to give an exact definition of this generation and examines their travel behavior in order to provide a solid foundation for the remaining study. 2.1.1 Definition Literature agrees that Generation Y (also known as millennials or net generation) considers all people who were born between the early 1980s and the late 1990s (Parment, 2009; Pendergast, 2009; Sheahan, 2005). Although the exact age boundaries differ slightly between single studies, this Master Thesis considers everyone born between 1982 and 2000 as part of the millennial generation (Eisner, 2005; Pendergast, 2009). Some studies suggest that there is a significant difference between subgroups divided by age within Generation Y in terms of their behavior and perception (Loda & Coleman, 2010; Rasammy, 2014). A 17-year old might perceive things very different than a person over 30 and especially technology played a different influence factor in their stages of life (Rasammy, 2014). Moreover, …show more content…

According to their survey, more than 50 percent of millennials spent more than thousand euros on their trip, the average length of a trip was 46 days. Millennials are influenced by social media, online reviews and technology gadgets. Top motivations for traveling include experience everyday life, socialize with locals and increase knowledge. Furthermore, Generation Y is mostly concerned about the climate change, social inequality, and educational issues, but security aspects are not mentioned so far (WYSE Travel Confederation,

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