According to Philippe Breault's benchmark, Parcelable
is way faster than Serializable
. He tested it on 3 different devices, with Android versions 2.3.3 and 4.2.2.
You can see the results below.

Nexus 10 Serializable: 1.0004ms – Parcelable: 0.0850ms - 10.16x faster.
Nexus 4 Serializable: 1.8539ms – Parcelable: 0.1824ms - 11.80x faster.
Desire Z Serializable: 5.1224ms – Parcelable: 0.2938ms - 17.36x faster.
Those numbers are for a single object, passed through a Bundle
1000 times around. If you're expecting to add 100+ more, things will escalate quickly.
Serializable
is a standard Java interface, and it tends to leave a lot of temporary objects behing, which can trigger many GC events.
Parcelable
on the other hand, is an Android interface, that was conceived to tackle performance issues, and it achieves that by not using reflection on the serialization. Thing is, you have to define the serialization yourself. But you'll get a huge performance difference compared to Serializable
objects.
You can read more about Parcelable
on the docs.
Also, related answer on why you should use Parcelable.