The study, by the World Youth Student and Educational (WYSE) Travel Confederation, revealed that 37 per cent of young people were happy to splash the cash for food and drink experiences, with over a quarter (27 per cent) also happy to spend money to go to a local festival.
Young people rely on friends and family's advice the most for choosing their destination and what to do there, but since the first survey was taken in 2002, the importance of social media in this decision has rocketed. Millennials are also relying more and more on travel review sites such as Trip Advisor. The survey also concluded that young people "are significantly less likely to use tourist information offices and tour operator brochures".
It was also revealed that there were three main factors when it comes to the happiness of a young traveller - the destination, the length of the trip and the activities. And when it comes to destination, the trips to Mexico, Japan, Indonesia and Peru made people the happiest. Being away for at least a month makes happiness peak, but holidays that are three to six months in duration and feature lots of experiences are the best.