The latest report from StudentUniverse, a company under Flight Centre Travel Group, shows that Gen Z is not letting financial concerns hinder their love for travel. The company’s “The State of Student & Youth Travel in 2023” survey delves into the travel sentiment of those aged 18 to 25 and reveals that 87% of respondents believe vocational travel, such as working holidays and study abroad, is important for their career, while 78% desire new experiences. This finding indicates that travel is still worth the investment for Gen Z, despite economic challenges.
Compared to previous generations, Gen Z travelers are more culturally aware, open to new experiences, and willing to delve deeper into the places they visit. The biggest appeals for young travelers include sightseeing, experiencing new cultures, trying new cuisines, exploring nature, and meeting new people. Surprisingly, only 21% of Gen Z travelers are interested in traveling for nightlife and clubbing. The report also highlights Gen Z’s impact on the travel industry, from their stance on the environment to their preference for cultural experiences over partying.
As restrictions eased during the pandemic, Gen Z showed the highest propensity to travel, and with an estimated disposable income of over $400 billion, this demographic is a significant target for the travel industry. Despite being budget-conscious, student and youth travelers spend three times more on a trip than the average international traveler. Financial costs were the biggest concern for 76% of respondents, but only 8% indicated they would stop traveling altogether due to finances. Most Gen Z travelers aim to find the cheapest option and expect to get assistance from a parent or guardian.
Although Gen Z is highly environmentally conscious, climate change has little impact on their desire to travel. Just 23% of respondents would pay to offset their carbon emissions when booking travel, and only 15% cited their impact on the environment as a top concern when traveling. However, the report reveals that 82% of Gen Z travelers are impacted by a country’s laws and attitudes on issues like LGBTQ+ rights.
The report’s key finding is that the majority of Gen Z views travel as a fast track to success at work, with 87% saying that overseas experiences would improve their career prospects. Additionally, 78% express a desire to partake in vocational travel, such as working holidays and volunteering.
According to StudentUniverse, student and youth travelers make up a quarter of all international arrivals worldwide. The survey gathered insights from 4,000 students around the world, including student mobility, preferred destinations, perspectives on traveling for education, purpose-driven vocational travel, the impacts of the cost-of-living crisis, and predictions for the next decade.
Source: StudentUniverse
