Millennials digital nomad lifestyle are increasing in UK and around the world.
55% of Millennials are saving for travel adventures over buying a house
81% of British Millennials love to shape their own trip and live like locals
Data from new Airbnb How we Travel report identifies key travel tribes
With home ownership a distant aspiration for many young people, travel has taken centre stage as one of life’s top priorities.
Over half of Millennials (55 per cent) rank travel as a higher life priority than buying a home (42 per cent), purchasing a car (35 per cent) or even paying off debts (44 per cent), according to a new study.
Driven by the possibility of living like a digital nomad, 81 per cent of British Millennials claim they are always looking for unique travel experiences and like to curate their own adventure.
The trend for Millennials spending their hard earned cash on travel experiences rather than status symbols emerged from research conducted by Airbnb for a new How We Travel report.
The report identified five key travel tribes that the British public believe they belong to.
The nation is said to be divided into Tourist Ticklisters (30 per cent) who plan their itinerary around top landmarks, True Insiders (15 per cent), Wild Adventurers (15 per cent) and Thrill Seekers (six per cent).
However, some 36 per cent of Millennials identify with the Wild Adventurers group and this mentality is impacting their life goals.
For some in this age group climbing Everest is a more appealing and achievable aspiration than climbing the housing ladder.
Some 81 per cent of Millennials love to shape their own adventures and would rather create an itinerary than use a package tour.
Thirty-five per cent of these travellers seek out novelty abroad and are three times more interested than Baby Boomers and twice as interested as Generation Xers in discovering a new skill or passion overseas.
Placing a high value on authenticity, 81 per cent of Millennials like to live like locals when they are travelling and food ranks as the most important experience for 46 per cent of this age group.
Airbnb’s Head of Hospitality, Chip Conley, explained the findings: ‘Status today comes from being in the know, from experiencing and sharing something that your friends haven’t seen before.
‘It’s been called the sharing economy, but it’s more accurately described as the access economy. Millennials don’t want assets weighing them down as they have to be taken care of. Owning a car or a home reduces your choices.’
He highlighted how the ability to work remotely has shifted travel and life patterns for this demographic and he has encountered a band of digital nomads travelling through exotic locations.
He said: ‘Most of these people don’t own a home or have a landlord, and being in a box doesn’t work for them.
‘Not only were those digital nomads really immersed in the local community, they were making a living working remotely while doing it. If you have your device, you can be mobile and live that leisure life combined with business.’