Gen Z is Broke, But They're Traveling Anyway
Gen Z’s Don’t Have a Lot of Money, But They’re Traveling Anyway by Monica Pitrelli (2023) discusses Gen Z’s traveling frequency, priorities, habits, and planning strategies. Understanding these trends is crucial to designing a system for traveling for Gen Z.
Gen Zs — those born between 1997 and 2012 — are traveling more than Gen Xers and baby boomers, and are “on par with millennials, who are currently the focus of the industry,” said Roeschke.
Yet unlike past generations, Gen Zs aren’t waiting until they have high-paying jobs or a nest egg of savings to travel. Rather, “they are finding ways to fit it into their budgets now,” according to Morning Consult’s report on Gen Z travel trends…
But that doesn’t mean that Gen Zs aren’t worried about travel expenses.
In a survey of 4,000 full-time students aged 18 to 25, some 76% named financial costs as their greatest travel concern. The survey, published in March by the travel tech company StudentUniverse, showed nearly two in three Gen Zs look for the cheapest options when traveling, and nearly half (46%) said they expect to get financial help from their parents.
They are also willing to cut other spending to pay for travel, according to a survey published in March by the Gen Z media company Student Beans. In the survey, 83% of young adults said they plan to cut back on non-essential spending…“Cost-of-living crisis or not, nothing is going to get in the way of Gen Z taking a well-earned break,” the report stated. (Pitrelli, 2023)
While most of Gen Z is greatly concerned about travel costs, about half of Gen Z expect to get financial help from their families, while the other half does not. This indicates that within a group, some people may approach travel with stricter budget constraints, while others may be more flexible because they have help from their parents. These differences can lead to tension and disagreements when deciding on certain travel components.
Understanding that not all Gen Z travelers have the same financial circumstances is important when making a group travel system. The system should be designed to help prevent conflicts and make planning fair for everyone involved.
Millennials may remember life without mobile phones and social media. But Gen Zs don’t. That’s why many turn to technology for travel inspiration and booking discounts.
Some 62% of adult Gen Zs said they use technology to help them save on travel, according to Booking.com’s “Travel Predictions 2023.”
And they aren’t just making decisions for their own trips — some are spearheading family vacation planning too.
“Travelers are being influenced by their children,” Deborah Frank, editor-in-chief of Luxury Magazine, told Virtuoso. “I have seen a lot of mother-daughter, father-son trips and have been told that the kids are determining where they’ll stay and what they’ll do.” (Pitrelli, 2023)
Understanding the tools Gen Z uses to plan trips is also crucial to designing a group trip planning tool. Gen Z looks to social media for inspiration and discounts when planning trips—how can I incorporate what I know about Gen Z’s trip planning methods into a group budgeting and saving system?
References.
Pitrelli, M. (2023, April 16). Gen Zs Don't Have a Lot of Money, But They're Traveling Anyway. CNBC. https://www.cnbc.com/2023/04/17/gen-z-travel-trends-travel-often-save-money-and-seek-adventure-.html
A.I. was not used for this article.
