Millennials invented the experience economy and Gen Z is reinventing travel itself

Fortune

by Nick Lichtenberg

March 4, 2026

AI-Generated Deep Dive Summary

Millennials and Gen Z have revolutionized the travel industry by prioritizing flexibility, experiences, and real-time decision-making over traditional planning and long-term commitments. Growing up with digital connectivity and global information, these generations expect immediate access, choice, and control in their travel decisions. This shift has transformed travel from a rare event to an ongoing lifestyle, where searching, booking, adjusting plans, and even canceling are seen as part of the process rather than fixed commitments. The rise of the experience economy, driven by millennial and Gen Z values, emphasizes moments over possessions and flexibility over stability. Younger travelers increasingly prioritize unique experiences—such as attending live events like concerts or festivals—over traditional sightseeing or comfort. This trend, often referred to as "gig-tripping," reflects a broader preference for personalized, dynamic travel options. Data from sources like Skyscanner shows that younger generations are more willing to book short- and long-haul trips centered around these experiences, highlighting a fundamental shift in how travel is perceived. Flexibility has become the new baseline expectation across both leisure and corporate travel segments. Business travelers are increasingly selecting flexible fares at booking, monitoring updates more frequently, and demanding cancellation coverage as standard policy. This shift is not just about price or convenience; it reflects a deeper desire for control and adaptability in an unpredictable world. Companies that fail to adapt by prioritizing flexibility and personalization risk

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Originally published on Fortune on 3/4/2026