Channel NewsAsia
Updated: 12/01/2012 05:30 | By Channel NewsAsia

Gen Y travellers independent and savvy with money: study

Gen Y travellers independent and savvy with money: study

Gen Y travellers independent and savvy with money: study

SINGAPORE: Young travellers in Singapore are independent, hip and savvy with their money, according to a study by UK’s Edinburgh Napier University, which looked at travel trends among youths in Singapore and Hong Kong.

The study was based on the Gen Y — those aged between 18 and 30. The findings were revealed by the Singapore Workforce Development Agency and the Association of Singapore Attractions.

Dr Paul Barron, a researcher at Edinburgh Napier University, said: "This Generation Y were very keen to have this concept of value for money. They were willing to pay, and they were willing to pay quite high prices as long as they were receiving what they considered to be value for money."

Twenty—five—year—old Shubh Preet Kaur said it is because they are well aware of the options and choices available to them.

"If we have better alternatives, and we’re not being provided with the value for what we paid for, we will move onto something else," said Mr Kaur.

Another key insight into this generation was how they got information on good travelling spots through friends or even online reviews.

"Friends and fellow colleagues who have actually been there are more reassuring because they have actually been through the experience," said 29—year—old Jason Tham.

Mr Tham added that he also gets his information through word of mouth.

"People know that some deals may be too good to be true because something may not be included in the overall costing," he said.

The study shows Gen Y travellers also love fun, adventure and prefer to go on vacation with their friends.

"For us, we prefer to travel with our peers more than family because as friends, we are probably more easy—going and we are all on the same wavelength. With parents, you have to make sure that there’s rest, or food that they like to eat or dietary requirements," said Julia Chow.

The findings will be used by hotels and visitor attractions to effectively engage Gen Y travellers.

— CNA/fa

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