Nearly half of older travellers giving up the ‘Aussie dream’ for holidays
Aussies are globally renowned as being a nation of travellers. It’s no wonder really, considering we’re so isolated from the rest of the world.
But now data backs up just how obsessed we are. And it may be staggering, but we’re even more keen on holidays than another Aussie compulsion: property.
Aussies are known as a nation of travellers. iStock
Almost half of Aussies would still choose travel over property this year, despite falling costs of homes and rising cost of holidays, experts reckon.
Travel insurer Insure&Go said when asked whether they would choose between property and travel, 46 per cent of respondents who didn’t own property said they would opt for travel.
While statistics among the younger age groups are slightly higher, they may simply be delaying the property dream. It’s the numbers among older Aussies that are the most telling.
A total of 51 per cent of 18 to 34 year-olds said they would choose travel over property this year, compared with 44 per cent of 35 to 54 year-olds.
Remarkably, 40 per cent of over-55s said that too, signalling they may have ditched the Aussie dream of owning a home to go on holidays instead.
“For many, it’s more than discretionary spending; it’s an investment in personal growth, wellbeing and creating meaningful experiences, which is why people continue to plan and save for trips despite cost-of-living pressures,” Madhvi Mishra from Insure&Go said.
Research backs Aussies’ desire for cutting back to ensure they don’t miss out on a trip. iStock
More research also backs Aussies’ desire for cutting back to ensure they don’t miss out on a trip.
New data from Skyscanner revealed nearly eight in 10 Aussies are willing to reduce at least one everyday expense to make room for travel in their budgets.
It said 70 per cent agreed travel is worth the financial sacrifice, while half say they don’t feel guilty about spending money on a trip.
However, they said Aussies are compromising to make their cash stretch as the cost of living bites.
To save some money we’re choosing cheaper destinations. Getty Images
Choosing cheaper flights and destinations, taking shorter trips and looking for better value are top of mind.
“With value front of mind, people are looking for smarter ways to book so they can continue to make travel part of their plans,” Skyscanner Travel Expert Jarrod Kris said.
“It’s no longer just about cutting back on everyday extras and setting money aside for a trip.
“They’re comparing prices, travelling during more affordable periods and staying flexible on dates and destinations.“
Indeed, Australians are travelling overseas in record numbers, with outbound trips reaching a staggering 12.7 million last year – a four per cent increase year-on-year and up 32 per cent compared to a decade ago.
Asia remains a massive drawcard, with travel to Japan soaring by 105 per cent since 2018-19, driven largely by holidaymakers at 82 per cent.
Australians are travelling overseas in record numbers. iStock
The fact that Australians love to travel so much even sparked a discussion on Reddit, where commenters dived into just why that is.
Hot takes include one commenter who said: “We get decent holiday leave, good pay and have access to cheap holidays.”
Another noted “domestic holidays are crazy expensive for us, compared to many overseas destinations.”
A third person said: “Experiences are more interesting than items. Maybe we put less value on brands and showing off wealth? Cost of living is high so it takes time to save for trips but it’s often something worth doing.”
