- The black travel sector is nearly a $50 billion market
- 80% of black millennials will plan a trip somewhere that’s accepting of their identity
The black travel movement has reached professional retreats and its multimillion dollar market. African Americans are five percent more likely to travel for the purposes of a convention, conference, or seminar compared to other races. Where does the intrinsic value actually exist in professional retreats for African Americans?
Why This Matters: Typically retreats are leisure in nature with the magic quickly fading away, while lacking the restorative qualities of a professional retreat. The black travel sector comprises a nearly $50 billion market, according to Mandala Research. Perhaps the greatest value in these type of havens are the opportunities for black professionals to possibly meet their next business partner or come up with the next big project idea without being in a boot camp-like environment.
Black millennials are a well traveled bunch with 72% of them willing to pay more to book with a brand that understands their racial identity, according to a 2017 study by DigitasLBi. Also, 80% of them are more likely to plan a trip somewhere that will be accepting of that identity. So black travellers presented with the right opportunity to further their career or even start a new one altogether could become an even bigger market play for the travel industry.
Situational Awareness: In general the travel industry makes the assumption black people want the same experiences. This new wave ties into a sub-sector of black travel devoted to fighting the stereotype that black people don’t camp, hike, or generally spend time outdoors. It’s important that experiences are customized to speak to consumers from a cultural perspective.
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