These Affluent Millennials are ASPIRATIONAL, AFFLUENT and AMBITIOUS (AAA)
Driven by income growth, the Asian Millennials’ expenditure on international travel is expected to increase to US$340 billion by 2020*. To add on, Southeast Asia's and India’s rising economies, powered by a rising middle and upper class, are strengthening the demand for travels throughout the region. These travelers are digitally savvy with 4 in 5 referring to online sources for their travels.
We keep a finger on the pulse of the evolving Asian travel consumer!
Markets: China, Hong Kong, Taiwan, Malaysia,
Singapore, India, South Korea
This report is based on findings from the Affluent Insights™ Luxury Travel Surveys:
- Fielded online in April/May 2016.
- Covers seven Asian markets: China, India, Hong Kong, Singapore, Malaysia South Korea, Taiwan.
- We interviewed a total of 922 Generation AAA respondents across Asia. These are people aged 18 – 34 years old.
- In each market, we surveyed 100+ respondents. All of the respondents were defined as affluent with annual household incomes as per the table on the right, and have travelled internationally for leisure or business in the past 12 months.
*Minimum qualifying income. E.g., in China almost half have an income above CNY 350,000, and more than 1 in 5 an income above CNY 750,000.
- Table of contents: