Their top spending priorities, according to new data, are rent and flights.
Generational divide this , generational divide that . Most times , these divides are flirt up and manufactured for the saki of stirring up false separations within society . The boomers are doing this , Gen X is bribe that , millennials are wreaking havoc on both the housing and avocado markets . But sometimes , generational demographic do give away interesting behavioral trends — peculiarly when it comes to how wetravel .
The2024 State of Student Travel Reportfrom StudentUniverse , which surveyed 6,000 student between the eld of 18 to 25 in the US , the UK , Australia , and Canada , found that Gen Z is especially dedicated to traveling .
For starters , Gen Z has travel architectural plan : 78 % of Gen Z traveller intend to take a vacation in the next 12 months . That trip is going to materialise no matter what—18.3 % of Gen Z travelers will apportion 40 % or more of their disposable income toward their vacation . An additional 47.8 % of respondents shared that they will be dedicating 20 to 40 % of their disposable income towards holiday .
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Disposable income is defined byMerriam - Websteras " income that is left after paying taxes and for things that are essential , such as food and housing . " That means for Gen Z , behind the most canonic essentials , travel is a top precedence . This does n’t come as too much of a surprise . Other late studies show that manypeople favour change of location or unexampled experiences over gift . There ’s also data to paint a picture Gen Z ( along with millennials ) are the most likely to move around for pop culture events in 2024 , further expanding the motivations for unseasoned mass to venture beyond their plate radical .
" Despite ongoing economic concern , scholarly person and youth traveler stay to prioritise journey , " said Will Jones , brand manager at StudentUniverse , about the report . " They put great accent on the value of traveling which can foster cultural substitution and expand their worldview . As we uphold to see solid purport to travel from Gen Z we believe it is valuable to well translate the outlay habits of this demographic which accounts for roughly 20 % of the US population and boasts spending power in excess of $ 350 billion . "
The dedication to spending on change of location certainly is n’t exclusive to Gen Z. In general , about 20 % of Americans are willing to go intocredit posting debtin order to afford their 2024 vacation . But , even with such a high part of money dedicate to vacation , the genuine amount is n’t as high as you ’d think . Only 10 % of Gen izzard travelers are spending $ 2,000 or more per slip . Most multitude are plan to drop significantly less—32 % of Gen Z will expend between $ 1,000 and $ 2,000 per slip , 33.6 % will spend $ 500 to $ 1,000 , and 23.4 % will spend $ 500 or less .
Even if the average Gen Zer is contain two trip-up a year that cost between $ 500 and $ 2,000 , that ’s still between $ 1,000 and $ 4,000 per year . In 2023 , theaverage salary for a Gen Z workerwas $ 37,300 . It will take a lot of commitment and creative planning in parliamentary procedure to draw travel off with such high cost of living and low average wages .
The good news for Gen Z travelers ? There are some savings out there alone for untested people . United Airlinesjust announced that they are offering a 5 % discount rate on trajectory , just for being between the ages of 18 and 25 . Beyond historic period - specific discounts , you could also find plenty of advice onsaving money on your next tripat Thrillist , whether that meansfinding cheap flightsor getting agreat deal on a hotel stay .
Looking for more travel deals?
Here ’s our running list of all thecheap change of location dealsyou can hold right now , and you could head here for all the latestflight dealspluscheap thing to doand savingson hotel , cruises , string , and moreto help you plan for your next trip-up .
