Travel and “seeing the world” has emerged as the most important financial outlay for Gen Z when it comes to thinking about spending their money.
Research from Booking.com shows 65% of the cohort, aged 16-24, put travel ahead of saving for a property.
When pitting travel against other spend choices such as homewares, clothes, technology and gadgets and eating out, travel still came out top.
Booking.com believes the findings also point to wider aspirations in the lives of the Gen Z cohort.
Almost 70%, for example, say they already have a travel bucket list, with 44% citing a desire to think about places on the list as a reason for creating it.
Those that don’t have a list say it’s because their preferences change too often and because they like to travel on impulse.
The findings are also interesting when it comes to looking at what they want from travel with 56% seeking an adventure experience and 52% planning on trekking to an extreme location.
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While Gen Z travelers are already seeing the world with family, 42% say this is because it allows them to go on trips that would not be able to afford otherwise.
That said, the study reveals that just over a third, 34%, plan to travel on their own at least once in the next decade.
In addition, a third say they actually prefer to be alone when traveling and almost 20% say they want to tak a solo backpacking trip or gap year.
When it comes to career, 80% of the cohort sees getting a job as the most important life experience.
However, 54% also place importance on getting a job that includes travel and 57% say a job that exposes them to other cultures is also attractive.
Booking.com is not the only online travel agency to see huge opportunity for those that can tap into this generation. Expedia released research last November revealing that it's activities and experiences that drive Gen Z's travel plans.
The research was carried out across 29 markets and more than 21,000 respondents of which 25% were categorized as Gen Z.