The Bahamas is a top destination for Gen Xers and Millennials, according to data released by travel insurance company Insuremytrip yesterday.
The data cataloged the travel purchase behavior of Baby Boomers, Gen Xers, Millennials and Gen Zers between January 1, 2020 and December 31, 2023, and found that more Gen Xers and Millennials chose The Bahamas than the other two.
According to the company’s data report, Baby Boomers range in age from 58-76; Gen Xers, from 46-57; Millennials, from 27-45; and Gen Zers, from 6-26.
“Americans of all ages travel, but different age groups have different needs, wants, and concerns when vacationing,” the report explains.
“InsureMyTrip analyzed the travel habits of policyholders in four age groups, utilizing data over the last three years.
“According to the findings, travelers in each age range have different spending habits, are visiting different destinations, and are purchasing travel insurance at different rates.”
The report found that the top destinations for Baby Boomers are Mexico, Italy and the UK. The top destinations for Gen Xers are Mexico, The Bahamas and Italy. Atop the list for Millennials are Mexico, Costa Rica and The Bahamas. And Gen Z favors Mexico, Costa Rica and the UK, the report explained.
It adds that Mexico is the cheapest vacation on the list, at an average cost of $3,323. The report also explained that Baby Boomers spent “significantly” more on their vacations that the other age groups – an average of $6,126. Gen Xers spent an average of 5,060; Millennials an average of $4,141; and Gen Zers an average of $2,788.
The report also revealed that most of the generational groups traveled in groups of two. Gen Zers stood out, given that they, on average, seem to travel alone.
The Ministry of Tourism has for years collected and studied this kind of data to determine what kinda of traveler The Bahamas product attracts, and to determine how to increase travel by the demographics that seem to travel to this destination less.
