The future of the travel industry is extremely bright and millennials are to thank.
According to the recently published "Millennial Brief on Travel & Lodging" report from FutureCast, millennials currently spend more than $200 billion annually on travel.
Interestingly, the report also shows that a majority of millennials seek new experiences above everything else when traveling, with nine out of 10 in agreement.
What's more, 70 percent of millennials indicated that they want to explore the communities they visit on vacation and learn something about them in the process.
Millennials' collective desire to experience something new and different is reflected in their travel planning. According to the report, the generation checks an average of 10 sources before making travel purchases.