Using a factor-cluster market segmentation approach, this study analyses the motivations for incoming and outgoing Erasmus student travel. Based on six delineated push and pull motivation factors, cluster analysis was employed to identify similar respondents, based on their motivations. The findings show that there are three distinct groups: the socio-cultural student traveller, the synergistic student traveller and the entrepreneur student traveller. Gender is the variable identified as statistically more significant among the three groups. The article concludes with suggestions for the internationalization of higher education institutions and the marketing implications for tourism destinations in relation to student market.