Kwon Ping Ho, founder of Banyan Group, launched his first resort in Phuket in 1994 and now manages over 90 hotels globally. He noted a dramatic shift in tourist expectations compared to earlier generations. Unlike hotel-centric group tours of the past, today’s travelers seek deeper, more interactive experiences. Many younger tourists, influenced by their travel with their parents, desire adventures that allow them to engage with local cultures. A recent McKinsey survey indicated that 52% of Gen Z travelers are willing to splurge on experiences, contrasting with just 29% of baby boomers.
"When you talk about the people of my generation, when international travel just started, people were happy to go on group tours. They just go to a hotel and they eat in a hotel."
"But young people today have long become jaded about international travel. They've been traveling with their parents. Today, when they're traveling on their own, they are looking much more for things that are out of the way."
"They are much more into experiences, and not just to see something beautiful because they've probably seen that, done that with their parents already. They are looking at experiences which are deeper and allow them to interact with the local community."
"52% of Gen Zers surveyed said they are willing to splurge on travel experiences compared to 29% of baby boomers surveyed."
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