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Travel no.1 reason to save for half of young people, says TrekAmerica

27th March 2015
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Half of young people considering travelling as their number one reason to save, according to TrekAmerica.

Whilst young people also valued nights out as a top reason to save up, it was travel that came out resolutely on top: two thirds of those questions spent their money on this, with 70% willing to dip into their savings in order to fund their adventures.

The US tour specialists recently conducted independent research on 17-30 year olds to find out just how important saving is to this group, the lengths they will go to to achieve their saving goals, and how young men and women approach saving differently.

Obviously, this inherent case of wanderlust means those aged 17-30 (hardly the most affluent bunch) need to take saving up seriously - in 2013 young people spent £133 billion on travelling, with the average price they were willing to pay coming in at £1600.

That’s a lot of months of penny-pinching – 14 months on average, in fact.

The results also found that 52% believe that they’ll have more freedom to travel when they’re young – so now really is the time to get out there and see the world.

The survey also revealed differences in finance-boosting habits between the genders.

Whilst men are likely to invest in stock markets and ask for a pay rise in order to boost their cash flow, women are more likely to look to their own possessions for a solution. This includes cutting their shopping budgets and turning to eBay, or turning seller themselves and raiding their wardrobes.

Both sexes agreed that socialising with friends was another important expenditure, but whilst 71% of females stated that they would sacrifice a big night out to stay in and save their hard-earned cash, just 54% of men agreed that they would do the same.

Despite this, there is one way to save money that all respondents agreed wouldn’t be happening any time soon – only 8% were willing to move back in with their parents in order to help them save.

Louise Hughes, head of marketing at TrekAmerica, says: ‘’We knew from many of our customers first-hand just how much their TrekAmerica trip means to them as young travellers who want to get off the beaten track and explore the USA and how often, planning for their trip begins many months in advance with the saving process.

“It was intriguing to see the gender split when it comes to saving, but most encouraging to see that travelling remains a clear priority across the board.’’

She adds: “One resounding message that came through from the research is that travel is recognised as an important life experience that young people are willing to save for, and our team of experts are ready to guide them to finding their perfect trip when they’ve reached their goal.’’

The full results of the survey have now been turned into an infographic. To find out more visit the TrekAmerica blog.




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