Corporate history

Below is a full history of the company to date and how two people over the past 10 years have been the significant driver in the formation of a global ‘Gap Year’ marketplace currently valued at over £5bn.

The ‘Gap Year’ market: 1998

The two Founders of gapyear.com came together in 1998 into a gap year market in its infancy. In the UK in 1998 the term gap year referred only to rich 18 year-olds who travelled the world on their parent’s money. Referred to in the UK as a ‘gap year’, ‘year off’, ‘year out’ and ‘time out’, it was regarded an exclusive option for relatively few.

Around the world the ‘bridging year’ or ‘OE’ (Overseas Experience) was also a minority option for a few in Australia, South Africa, New Zealand, Canada and America. The term ‘gap year’ was unheard of overseas.

The vision

Tom and Peter had a vision. Aware of more backpackers aged 25-35 travelling in-between jobs (many of whom were changing careers) and a growing number of 55-65 year olds doing the same around retirement age, they spotted a theme. In the UK and in the major English speaking countries around the world, people seemed to be engaged in independent / experiential travel in between life stages e.g. before university, before a first job, before getting committed to marriage/debt/family, just after their children leave home (Empty Nesters), after a partner bereavement and around retirement.

These were natural ‘gaps’, clearly defined by ‘life stage’. With the price of travel falling, the growth of the internet enabling instant access to travel ideas, the basic formation of communities online, the apparent start of a backpacker boom amongst the under 25s and the baby-boomer generation approaching the final life-stage ... there was clearly a market with an online potential forming.

The challenge

To show the world it was happening and to bring it all together under one global marketplace / online community called ‘Gap Year’

How to do it?

1. Find people doing these ‘gap years’ and put them in a place where the company could give advice to help them plan the perfect gap year, buy the products, chat to others doing it and then encourage them to come back to inspire those following.

2. Encourage the media to take pieces showing what was happening, providing case studies, research, advice, facts and figures to grow the market.

3. Start with the UK 18 year-olds and expand slowly across all social demographics and age groups. Then copy the model overseas.

The result

By developing a global online community and persuading Editors and Producers to run 'Gap Year' pieces using this community as case studies, the term ‘gap year’ is now recognised globally for all age groups in all the major English speaking markets. Over 20% of the gapyear.com users are now from overseas.

The future

Gap year travel amongst the 18-24 year old market will continue to grow steadily to a natural levelling off point within three years. The 25-35 careergap market will also boom within three years as more and more firms develop careergap sabbatical packages to combat staff retention issues. The baby boomer market is the interesting segment that will take the total global gap year trips well over 2 million by 2010, with a total spend in excess of £11bn* [2005 Mintel Gap Year Report]