WALTHAM, Mass., Oct. 23, 2014 (GLOBE NEWSWIRE) -- StudentUniverse, the leading resource for student travel discounts, and Skift, the largest industry intelligence and marketing platform in travel, unveiled a special report, "The State of Student Travel." The report defines the evolving preferences of the student traveler and the changes happening industry-wide to capture the revenue opportunities this segment represents.
The report reveals that the student travel segment commands a market value of $320 billion and represents one-fifth of all international arrivals in the travel industry today. By 2020, 300 million student-travel related arrivals are expected; a number that will represent a quarter of total tourism. Increasingly, student travelers want to both work and volunteer when they travel, something that distinguishes them from the travel patterns of other tourists.
"Student travelers are critical stakeholders in the tourism industry but are often over-looked or under-estimated as companies focus on the coveted business traveler. With this report, the true buying power of the segment and their ability to shape the future of travel is showcased," said Paul Jacobs, vice president of marketing at StudentUniverse. "We have focused on creating a closed channel, curated to this market, for the past 15 years and our partners and suppliers have benefited tremendously from it. It may take some discounting to get their attention, but it always pays off."
Additional report findings include:
- Students are increasingly making a kind of temporary home within the culture they've chosen to experience. Students are increasing their average length of stay (typically spending more than two months on a trip) and spend in-destination (the travel budget for a typical trip runs $1,000-$6,000). They are crossing borders for language immersion and taking jobs and internships while abroad. The chief goal of travel for both male and female students was historical and cultural site visits; 58 percent of male students and nearly 63 percent of female students would still travel if nightlife was absent from the experience.
- Student travel accelerates personal and professional growth. Students who travel abroad cite it as a professional and personal benefit—85 percent of student travelers discussed their experience abroad during job interviews and 88 percent of students travelers said it was a differentiator that helped them get their job. Further, 75 percent of students cited travel as having an effect on their career path.
The full report can be found here.
A webinar covering the highlights of this report will be held on Tuesday, October 28 from 11am-12pm ET. Skift's James O'Brien will be presenting. He will be joined by StudentUniverse's vice president of marketing, Paul Jacobs, who will address audience questions. Register to attend the webinar here: http://bit.ly/1or3bAh.
About StudentUniverse
StudentUniverse empowers students and youth to travel. We deliver exclusive deals and experiences through our website and mobile apps to the fastest growing segment in travel. We offer discounted rates on flights, hotels, tours, groups and more for students and youth. StudentUniverse is on a mission to make global experiences possible. We believe that travel is essential to a modern education and that students return enlightened and inspired.