June 17, 2014
Travel used to be only for the old and wealthy. Vacations would be for families who wanted to go to Disney World or fanny packing through the battered roads of popular European cities. The rise of technology startups has opened up travel to a whole new generation. It is now possible for almost anyone, anywhere, with any amount of money to take a trip across the world.
The travel revolution started with travel comparison sites like Kayak and Expedia who unseated the traditional travel agencies as the go-to places for vacationers looking for the cheapest airfare and hotel prices. These startups brought transparency, reduced fees and increased competition to an antiquated industry. This allowed more people to begin traveling and more often.
Even with cheaper and easier to find flights and hotels it was still not feasible for a lot of individuals to travel. Young travelers relied on hostels and couch surfing for more affordable lodging options, but these accommodations were not easy to find. Finding a decent hostel could have been the original storyline for Mission Impossible and the craigslist’s horror stories didn’t make finding apartments to rent any better. According to a report on millennials by Indurit Holdings, “millennials are the most eager demographic to participate in travel.” Over 60% of millennials expected to travel for pleasure at least once in the next year. Startups are starting to notice this demographic.
New companies are beginning to cater to millennial travel needs. The PoshPacker is a travel tech startup that specifically targets young, low-budget travelers. The website compiles boutique hostels that are both high-quality and affordable, two characteristics that millennials are looking for. Similar to hotel comparison sites, The PoshPacker also provides search features, customer reviews and photos of hostels around the world. The tech industry has responded to customer desires and is democratizing the travel industry.
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