The World Travel Trends Report says this of youth travelers–
Youth travel was long seen as a small part of the travel and tourism industry, characterized by cheap prices and low spending. However, the picture has changed in recent years, according to diverse studies. The World Tourism Organization (UNWTO) estimates that youth travel gene- rated US$ 182 billion in international tourism receipts in 2012, and represented more than 20% of the more than one billion international arrivals. The average cost of a trip by a young person amounted to US$ 910. The number of international trips by young people might increase from 200 million trips a year at present to 300 million by 2020, UNWTO has predicted.
However, the market is even more valuable when longer or more expensive trips for purposes such as studying abroad, work experience and volunteering are taken into account, according to the World Youth, Student and Educational Travel Confederation (WYSE).
I guess youths championing YOLO nowadays really do embrace travelling — bolding going for student exchanges, graduation trips, volunteering, working overseas on internships and freelance jobs.
I just wonder if there is also a trend towards a minimalistic lifestyle, whereby the younger folks prefer to spend their extra cash on experiences as opposed to material goods? 🙂