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Gen Z love spending money on travel

Gen Z thinks spending money on travel is more important than anything else.

A total of 52 per cent of people surveyed in the 16 to 24 age bracket think travel is always worth spending money on whilst nearly two thirds (65 per cent) of Gen Z respondents said travel and seeing the world was the most important thing to spend money on, followed closely behind by property and higher education and professional training, which was rated highly by 60 per cent.

The study - commissioned by Booking.com - also revealed that nearly two in five (39 per cent) of Gen Z travellers planned to visit at least three different continents over the next three years, with over one fifth (21 per cent) confessing they would love to study or live in a different country in the future.

Parents are helping their kids travel the world, with young people are increasingly relying on their relatives to help them get abroad for gap years and holidays away with friends.

A survey of over 1000 young adults (aged between 18 and 29) revealed that 51 per cent had been on holiday with their parents, at their expense, at least once since turning 18, whilst 82 per cent of those surveyed said they would consider taking a trip with parents.

Social researcher Mark McCrindle said: "Young people experience many financial pressures today so parents are playing a key role in helping their adult children save, study and now travel. When it comes to travel, having a close relationship with mum and dad can clearly have significant benefits - both emotional and financial."

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