STA Travel, part of the Swiss-based DKSH group, is expanding into the business travel market with the launch of STA Business Travel.
The move shows its all about millennials for the world's leading student and youth travel service. The move would suggest that when students enter graduate roles or start their own businesses they'd prefer to turn to a brand they knew and trusted during their student years.
We've wrote about why millennials are coming to get you. They will be half the workforce (in North America & Europe) in 2020, and by 2030 will outspend the baby boomer generation. According to data from PhoCusWright, 66% of millennials consider travel a very important part of their life, practically a birth right. They are more likely to seek a career involving some work-related travel, in order to experience this on a semi-regular basis. Some will build their own business instead so that they can get the same kind of freedom to travel. Interestingly, despite this being the generation raised on Facebook and YouTube, many feel better about booking trips with the help of a travel advisor.
MMGY Global’s survey, 2014 Portrait of American Traveler’s, found that 18% book through advisors, making STA Business Travel a smart move into that market. According to the survey, millennials place enormous value on advisors knowledge (78%) and their ability to make travel hassle-free (78%). The same survey also found that this demographic is the only one wanting to travel more in the future.
This trifector of more millennials in the workforce, more traveling, and with a larger share of disposable income (which is useful even if an employer is footing the bill) makes this an ideal growth market for STA Travel.