Millennials Drive Shift in Premium Travel Market: American Express

American Express Travel has noticed a significant shift in its customer base, with millennials and Gen Z making up 65% of new customers globally. According to President Audrey Hendley, these younger clients are prioritizing travel experiences over traditional luxury offerings. In fact, an American Express survey found that 75% of millennials would take a job with fewer benefits in exchange for more time to travel.

Hendley emphasized that premium travel is no longer just about high-end properties and destinations but rather 'the enriching experiences we can provide for customers across the world.' To cater to this new breed of travelers, American Express is focusing on experiential programming and physical product upgrades. The company's Sidecar lounge concept, designed around real customer patterns, has been a phenomenal success.

However, Hendley acknowledged that the premium travel market may be a sub-segment of travelers, and the broader market is experiencing a decline in tourism. U.S. inbound tourism was down 11% in August 2026 and 7% in July 2026, according to Skift's Carolyn Kremins.