Adani Enterprises is planning to list its airport business — Adani Airport Holdings — by fiscal 2028, according to media reports that quoted Jugeshinder Singh, the group’s chief financial officer.
08.06.2024 - 11:23 / insider.com
Rich millennials in China are experiencing world travel in a very different way from their parents.
The older generation was the first group to benefit from the country opening up to world tourism, but the industry was still in its infancy. Therefore, organized tour groups were the go-to option for those with the money to spend on this new middle-class pursuit.
These tours offered a safer and more accessible way to explore new destinations,Elisa Harca, CEO of consultancy firm Red Ant Asia, previously told Business Insider.
But younger generations — millennials and Gen Z — have grown up in a world that's much more open to them. For those who can afford the luxury, they spent their youth traveling with their parents and studying abroad.
And it's meant that now they want to travel alone or in smaller groups of friends, as it emerges as the latest luxury status symbol for younger people in China.
"They're a lot more used to being tourists,'' Jack Porteous of China-focused consultancy firm Tong Global told Business Insider.
Many people have a more advanced level of English, and the availability of real-time translation apps means traveling further afield to places in Europe is much less daunting for this younger cohort.
The rise of social media platforms for travel has also spurred the accessibility of solo travel. Experts pointed to the Xiaohongshu, China's Instagram-like app, as one of the main resources for travel recommendations.
Luxury travelers, especially those in their 20s and 30s, are relying on Xiaohongshu to make decisions on booking hotels, flights, and restaurants when they travel, Sally Maier-Yip, founder of China-focused communications consultancy 11K Consulting, told BI.
In 2022, the app boasted an estimated 200 million monthly users, mainly young women, seeking product recommendations, lifestyle advice, and how-to videos.
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Porteous explained that the site is full of content about how to "live like a local" in different destinations worldwide.
This allows people to find more authentic travel recommendations for themselves rather than leaning on travel experts.
It's not just about ticking off bucket-list destinations; well-traveled younger people are looking for deeper meaning in the experiences they're spending their money on.
"Immersive travel experiences spanning four to eight days are gaining traction," Maier-Yip, told BI. She said this indicates a growing appetite for trips centered on fulfillment and personal happiness.
"Travel has also taken on a new role as a form of self-exploration and definition," Porteous of Tong Global added.
Visiting unique, off-the-beaten-track locations is the next frontier for those looking for luxurious travel experiences.
Porteous points
Adani Enterprises is planning to list its airport business — Adani Airport Holdings — by fiscal 2028, according to media reports that quoted Jugeshinder Singh, the group’s chief financial officer.
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