Young people ages 22 to 35 years old, the millennials, are currently the most important travel consumers, industry experts say.
In fact, millennials are likely to spend more on travel than invest in real estate.
Real-estate broker Ice Oliva, a millennial herself, said she would hesitate to sell to this age group.
"If they don’t have an immediate need for it, millennials don’t buy it," she explained in an interview with Entrepreneur Philippines at an event organized by the Italian Chamber of Commerce in the Philippines (ICCPI) last September 25.
"They would rather have travel and other things instead of focusing on real-estate investment."
Ice, CEO of the digital marketing firm Zeeguru, was one of the event's speakers about the state of the real-estate industry in the Philippines.
Considering the size of their income, where do these young people go?
Michelle Cruz, country marketing Head of travel activities booking app called Klook Travel, said Hong Kong and nearby Asian countries are their most-booked destinations.
She said, "All year round, Hong Kong has been very strong for us. We see that Singapore, Korea, and Japan have been growing steadily."
She added that millennials and young moms from the Philippines take the top spot among the travelers from Southeast Asia, which form 30 percent of their consumer market.
"What we found surprising is that even moms, those that don't usually book online, would go to us for advice on itinerary planning or activities that they can book for the family.
"So safe to say, apart from millennials, we get a huge number of young moms and even parents that book for the whole family," the marketing executive told PEP.ph (Philippine Entertainment Portal).
PEP.ph spoke with Michelle last September 18, at the press launch of Klook Travel Fest in Makati City.
FAVORITE TRAVEL ACTIVITIES
According to Michelle, theme parks and city tours are the favorite travel activities of Filipino families and barkadas.
Michelle said, "Patok na patok talaga sa Filipinos yung theme parks.
"I think that is something unique to our market also, because for other markets, wee see a very varied range of activities that they book.
"For Filipinos, hindi talaga mawawala yung Hong Kong Disneyland, Universal Studios Japan and Singapore, and apart from theme parks, it's city tours also na patok."
Vlogger-influencer Dee Gee Razon shared his experience as a frequent traveler.
"For me, mas gusto ko mag-travel kasi, siyempre, bata pa ako and gusto ko mag-explore more kasi hindi mo naman masasabi kung kelan tayo maa-ano..."
The 21-year-old elaborated, "As long as may income naman or as long as kaya ng [budget], i-push mo mag-travel.
"Kasi unang-una experience din yun, and yun yung maitatabi natin e."
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Hong Kong is also one of his favorite travel destinations.
He told PEP.ph, "Ang gusto kong spot sa Hong Kong, yung sa Harbor kasi makikita mo dun talaga yung skyline ng Hong Kong."
Noting the lifestyle of young people, model-filmmaker Janina Manipol, 27, reminded about the importance of investing for the future.
"The millennial generation nowadays usually spends money on traveling and wants a flexible lifestyle," she said in a message she sent to PEP.ph.
"It shows how important travel is in our lives, but should we be valuing experiences or caring about our future and possessions?
"I think we should slowly start setting aside money to buy appreciating assets at the same time have authentic life experiences through traveling once in a while.
"Having a balance of both won't hurt. Everything in moderation, including travel."