Gen Z Don’t Have A Lot Of Money, But They’re Travelling Anyway

by Tanya July 17, 2023

The tremendous boost in globalisation and cheap flights means Gen Z is travelling more than any generation before.

And despite the lack of money, or cost-of-living crisis, nothing is going to get in the way travelling.

Because where there’s a will, there’s a way.

While Gen Z initial entry into the travel industry was hindered by the COVID-19 pandemic, the youngest generation of adults is making up for lost time by traveling far and often.

Traveling is becoming more mainstream, and Gen Z is no longer waiting to get a high-paid job or make enough savings to hit the road. As the most recent findings show, almost two in three Gen Z seek the most affordable alternatives when traveling, with about half looking for financial help from their parents.

Brands must acknowledge the emerging trends that will shape the leisure and travel industries now and in the future. 

Fascinating statistics about Gen Z travel habits

* 84% of Gen Z and Millennials are prioritising travel over luxury purchases

The majority of Gen Z and Millennial respondents would rather take a dream vacation than purchase a new luxury item [American Express study]

* 52% of Gen Z adults took at least 3 leisure trips in the past year

That share is significantly larger than it is for higher-earning Gen Xers (41 percent) and Baby Boomers (35 percent), and it’s on par with Millennials (52 percent) [Morning Consult study]

* 61% of frequent Gen Z travelers earn less than $50,000 a year

While earnings have typically separated travelers from non-travelers across other generations, that’s not the case with Gen Z.

Most frequent Gen Z travellers (61%) say they earn less than $50,000 per year. Only 11% Gen Zs who travel frequently come from households earning $100,000 or more annually. [Morning Consult study]

* 83% of Gen Z are willing to cut back on non-essential spending to save for travel

The majority of young adults said they plan to cut back on non-essential spending to pay for travel. [Student Beans study]

* Gen Z’s motivations for travelling are to relax, escape or getaway, and spend time with friends and family

That’s vastly different from previous generations, when the travel market was practically synonymous with raucous partying [Morning Consult study]

Read more statistics about Gen Z.

Gen Z travel habits

1. Digital nomadism and workcation

Covid-19 changed how people travel and, with it, Gen Z perceptions and aspirations for their holidays. As such, more and more Gen Z participants are on the lookout for experiencing a digital nomad lifestyle, which not only permits them to continue their work but also enables them to switch places for travel purposes.

Thanks to globalism, new banking and personal finance cards are popping up everywhere. From Monzo to Revolut, and Wise, they are all life savers when it comes to using your money abroad or dealing with multiple currencies. Thanks to these challenger banks, you don’t have to lose money in exchange rates or incur any service charges while living or travelling abroad. Sadly, the popularity of these banks also provides a fruitful playground for scammers. Isitsafe.money is a platform that features only legitimate financial service companies you can trust 100% giving you confidence to make the right decision for you and your money.

If you’re allowed to work remotely and want a prolonged weekend, you can search for a budget-friendly destination, take your car to the nearest airport, and hop on the plane with a bag containing only the essentials.

Driving to the airport is the most convenient way to start your journey, as your car will be waiting for you when you return. Zoomers don’t want to spend fortunes on airport parking, which is understandable since there are other ways to save money while enjoying similar perks. For instance, booking a lot at parking Stansted reduces parking fees, saving costs for Zoomers or any traveler seeking to make the most out of their travel budget.

2. Authentic immersive experiences over overpriced luxury

Gen Z travellers have a strong desire to connect with local cultures and communities. They seek out authentic experiences that provide a deeper understanding of the destination’s history, traditions, and local way of life.

This can include staying in local neighborhoods, trying regional cuisines, attending cultural events, and interacting with locals.

According to recent surveys, 51% of leisure travelers want to explore destinations like locals, getting to know as much as possible about the surroundings and the people’s way of life.

At the same time, 45% are concerned the experience may not be authentic enough, emphasizing how important it is for today’s travelers to gain an in-depth understanding of the sites explored. For 62% of surveyed travelers, a trip that doesn’t allow them to experience the culture like a local is a wasted opportunity.

Authentic and transformational travel is a concept that Generation Z is striving for, with the underlying reasons for this shifting trend being represented by the following aspects:

* Gen Z want to have their opinions and views challenged, helping them embrace a more open-minded mindset and improving their understanding of the world

* Gen Z wants to explore local cultures as it’s among the most beautiful and effective ways to learn about the surrounding cultures and places

Authentic travel helps individuals prevent cultural appropriation or embrace characteristics of a minority when visiting their sites.

Many Gen Z travelers look for the best Salt Lake City hotels to enhance their travel experience. Staying in a well-reviewed hotel can provide a comfortable and immersive base from which they can explore and appreciate the local culture.

3. Gen Z are happy to travel cheaper off-season

Gen Z travelers tend to be more budget-conscious than previous generations.

They often search for cost-effective options, such as budget airlines, and affordable accommodations like hostels or shared rentals, and seek out free or low-cost activities and attractions.

They are more likely to travel independently rather than booking expensive package tours and do so off-season.

The cost-awareness also means, that they prefer traveling during off-peak seasons, and choosing budget-conscious parking services like those provided by Parkos, and engaging in low-cost or free activities.

Travelling on a budget comes with plenty of advantages, like sharpening the adaption behavior in travelers who face unforeseen situations, they were not prepared for.

There are many areas where savings are made, from meals to accommodation, transportation, and entertainment. Traveling on a budget doesn’t equal cheap travel, and Gen Z knows this the best.

4. Gen Z favours eco-friendly and sustainable travel 

Sustainable travel entails being aware of the environmental impact of tourism and putting good practices in place to mitigate the negative consequences.

Gen Z travelers are growing more interested in the environment’s health, so they are opting to travel more sustainably by volunteering for conservation projects, staying in eco-friendly hotels, and reducing their carbon footprint.

Finding eco-friendly accommodations requires extensive research, like determining whether a company uses greenwashing practices, where they outsource their products and services, and how much of a positive impact they leave on the surroundings. 

At the same time, brands that take pride in their environmentally-friendly attitudes may provide services with a heftier price tag, meaning that Gen Z adopting this travel style are either forced to cut expenditures in other areas or make efforts to meet their desire to protect the ever-giving Mother Earth.

5. Gen Z take advantage of technology to find the best deals and destinations

Being the first generation to grow up with widespread access to technology, Gen Z relies heavily on technology for travel planning.

If there’s an app that makes travel easier, Gen Z is on it.

They’re booking their accommodations, checking flights, and finding amazing deals on travel with the help of technology.

They extensively use smartphones, social media, and online travel platforms to research destinations, find deals, book accommodations and flights, and share their experiences.

90% of Gen Z say that their international travel decisions are influenced by social media.

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The first Millennial blogger in the UK. Twitter @_luckyattitude

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