MMGY Insights Making Headlines
MMGY Global inspires people to go places and our insights are making news.
Insights from MMGY Global's 2016-2017 Portrait of American Travelers® (POAT) research was recently featured in several high-profile publications. Most notably, media were interested in our research on micro-segments, the record-breaking increase in leisure travel, and how recent global events including terrorism and Brexit have impacted travel.
Consumer Behavior Should be Analyzed in Micro-Segments, Not Generations
MMGY Global’s 2016-2017 POAT reveals insights that suggest the travel industry should stop bucketing travelers into generational groups and start measuring their activities and habits by micro-segments. These micro-segments, coined by MMGY Global, are intended to help the industry better understand consumer behaviors within the Millennial, Gen X and Baby Boomer generations. Skift, Travel Agent Central, and Travel Pulse reported on the behaviors of the micro-segments.
2016 Will Be a Remarkably Positive Year for Travel
According to POAT, Americans’ intent to travel is up 14 percent over 2015 with intent to spend on transportation, lodging and entertainment to increase by nine percent. These findings show that travel intentions have not only recovered from the Great Recession, but have soared above pre-recessionary levels. MMGY predicts a record number of vacations and new highs in vacation spending among American travelers in the next 12 months. Additional statistics can be found in recent articles from Bulldog Reporter and Travel Pulse.
Despite Shocking World Events, Americans Are Still Traveling
POAT research shows that Americans are resilient despite recent acts of terrorism and other adverse factors. Americans still intend to travel more than they did in previous years. Skift explains in 7 Charts Showing Americans’ Travel Intentions for 2016 and Beyond.
In other major news, the travel industry is reacting big time to Brexit and is trying to understand its current and future effects on global travel. In a recent Travel Market Report piece, Chris Pomeroy, MMGY’s Director of Global Strategies and Client Services, provides his point-of-view on Brexit, noting, “any major changes will only come into affect after the two-year transition period. What we need to keep an eye on now is the possible breakdown of the United Kingdom as Scotland and Northern Ireland consider their own referendum for independence.” Pomeroy notes that Brexit will affect the spending power of U.K. residents in the USA and predicts less U.K. visitation in the USA in 2017. To learn more about MMGY Global’s point-of-view on Brexit, read our Brexit blog series (Part I and Part II).
For a sneak peek into the 2016-2017 Portrait of American Travelers®, view MMGY’s recent infographic.