New research reveals Gen Z and Millennials are prepared to journey the farthest and spend probably the most to attend vacation spot occasions
A brand new research from AAA and Bread Monetary finds youthful generations are driving a surge in stay occasion journey. Roughly three in 5 Gen Z (65%) and Millennial (58%) respondents confirmed they’ve traveled previously 12 months and/or plan to journey within the subsequent 12 months for in-person occasions like live shows, sporting occasions, comedy reveals, and e-book readings which can be greater than 50 miles from residence . This compares to 43% of Gen X and simply 27% of Child Boomers.
Going the Additional Mile and Spending the Additional Greenback
Greater than half (53%) of Gen Z vacationers have or plan to move to stay occasions by aircraft, probably the most of any technology, and are prepared to go the additional mile, actually! Twice as many (18%) Gen Z vacationers say they’ve or could be prepared to go greater than 1,500 miles – the gap of half of the continental United States – in comparison with solely 9% of Child Boomer vacationers.
Youthful generations additionally spend probably the most for a superb time, as practically two in 5 Gen Z (37%) and Millennial (39%) vacationers have spent between $500 and $5,000+ on tickets alone for vacation spot stay occasions. To afford this, roughly two in 5 Millennial (42%) and Gen Z (37%) vacationers are prepared to dip into their financial savings to pay for journey prices for a stay occasion. A few third of these vacationers (Gen Z – 29%, Millennials – 33%) would contemplate taking on a aspect hustle to pay for his or her occasion journey. The youthful generations are additionally getting inventive to chop prices with practically half of Millennial (42%) and Gen Z (48%) vacationers saying they have already got or would journey internationally to attain cheaper tickets.
“Youthful generations are main the cost in terms of a shift in client spending habits surrounding stay occasion journey,” mentioned Paula Twidale, senior vp of AAA Journey. “Gen Z and Millennial vacationers are taking their journeys to the subsequent degree by going farther and spending greater than different generations for stay occasions. They don’t need to miss out and can do what it takes to see their favourite artist, sports activities staff, or different stay occasion in individual.”
Sports activities and Music Vital to Gen Z Vacationers
The youngest technology is driving live performance journey with greater than half (52%) of Gen Z vacationers planning to attend a music occasion within the subsequent 12 months. Artists themselves can affect Gen Z’s journey habits as one in 5 vacationers (20%) have traveled or plan to journey to a Taylor Swift live performance.
Gen Z can be most definitely to journey to a few of the larger sports activities occasions. Practically two in 5 (38%) Gen Z vacationers have traveled or are planning to journey for the 2025 Tremendous Bowl, 32% have traveled or are planning to journey to the 2024 NBA finals, and 19% have traveled or are planning to journey for the upcoming Summer season Olympics in Paris, France.
Should Go As a result of FOMO
FOMO (concern of lacking out) additionally performs a considerable position in influencing stay occasion ticket purchases with greater than one-third (34%) of all vacationers admitting it performed a task of their resolution. Whereas Gen Z vacationers (54%) most frequently really feel compelled to make occasion journey purchases primarily based on FOMO, 83% of Child Boomers say they resist such pressures. Moreover, youthful generations (Gen Z – 44%, Millennials – 43%) emerge because the demographics most pressured into spending cash on occasions they didn’t need to attend.
Oh, the Locations You’ll Go…
Greater than three in 4 (79%) vacationers are keen to move to their dream occasion location, with New York, Florida, and California being the most well-liked states and Las Vegas and Chicago the highest cities. Vacationers are additionally shaping their plans round well-known occasion venues like Madison Sq. Backyard (38%), Las Vegas Sphere (38%), and Radio Metropolis Music Corridor (31%).
Whereas at their vacation spot, vacationers need to take time to sightsee and discover earlier than and/or after a stay occasion with 62% noting they’ve included or are planning to bake in further trip time. Gen Z (72%) and Millennials (68%) lead the cost on further time spent at a vacation spot in comparison with Gen X (56%) and Child Boomers (51%).
… and the Causes You Would possibly Not Go
Most of the time, journey bills include a hefty price ticket when coupled with skyrocketing occasion ticket costs. Virtually half of respondents who are usually not touring to attend stay occasions listed ticket prices (47%) and journey prices (45%) as the 2 major inhibiting elements.
Amongst vacationers, different high considerations curbing journey plans embrace funds or debt worries (40%), lack of ability to take time without work from work (31%), inflation (31%), and automotive/flight hassles (28%). Prime causes for staying residence differed between generations with Millennials most definitely to skip an occasion resulting from an lack of ability to take time without work from work (37%), whereas Gen Z was most involved about funds or debt worries (38%).
“Whereas youthful generations are driving the development, this survey highlights the methods totally different generations are desirous about touring to occasions and the way they save for and spend round experiential moments in time,” mentioned Nick Antonelli, chief advertising and marketing officer at Bread Monetary. “These outcomes present that whereas loads of shoppers are hitting the highway for enjoyable occasions, many are cognizant of their budgets, and being purposeful round reaching a wholesome stability between managing their funds and want to journey and attend stay occasions.”
Survey Methodology
This was a web based survey of 1,654 U.S. respondents 18+ who’ve traveled or are planning to journey for stay occasion(s) previously/subsequent 12 months. The survey was performed from March 5 to eight, 2024.
About AAA
Began in 1902 by automotive fans who wished to chart a path for higher roads in America and advocate for secure mobility, AAA has remodeled into considered one of North America’s largest membership organizations. At this time, AAA supplies roadside help, journey, reductions, monetary and insurance coverage companies to reinforce the life journey of over 64 million members throughout North America, together with greater than 57 million in the US. To be taught extra about all AAA has to supply or to change into a member, go to AAA.com.