Tripping.com Survey: Cost Of Accommodations Is Number One Obstacle Preventing Older Millennials From Taking Their Ideal Vacation
Survey Findings Show Americans Willing To Sacrifice Paying Their Bills And Mortgage In Order To Help Finance Ideal Vacation
SAN FRANCISCO, Feb. 18, 2015 /PRNewswire/ -- Tripping.com, the world's largest vacation rental search engine, today released the results of their latest survey revealing what factors are preventing consumers from taking their ideal vacation. Survey participants also confessed what they would be willing to sacrifice in order to take their ideal vacation. Google Consumers Surveys conducted the online questionnaire on behalf of Tripping.com among 1,500 U.S. adults, age 18 and older on January 3, 2015.
Travel Accommodations and Transportation Too Pricey For Older Millennials
Older millennials ages 25 to 34 revealed their number one obstacle preventing them from taking their ideal vacation was the cost of accommodations (34 percent). Cost of transportation (30 percent) and financial insecurity (28 percent) were the second and third obstacles holding them back from their travels.
Of all respondents who participated, financial security was the number one obstacle preventing them from taking their ideal vacation (21 percent). The cost of accommodations (20 percent), cost of transportation (20 percent) and lack of time off (20 percent) were all also top prohibitors for travelers. Out of all the age groups, respondents 35 to 44 years of age felt most strongly that children and pets prevented them from taking their ideal vacation (17 percent).
| What Is Preventing You From Taking Your Ideal Vacation? |
||||||
| Total |
18-24 Yr Olds |
25-34 Yr Olds |
35-44 Yr Olds |
45-54 Yr Olds |
55-64 Yr Olds |
|
| Financial Insecurity |
21% |
21% |
28% |
21% |
20% |
15% |
| Cost of Accommodations |
20% |
22% |
34% |
29% |
11% |
9% |
| Cost of Transportation |
20% |
33% |
30% |
22% |
7% |
10% |
| Lack of Time Off |
20% |
23% |
25% |
23% |
20% |
18% |
| Children or Pets |
10% |
8% |
13% |
17% |
5% |
8% |
| Fear of Flying |
4% |
4% |
3% |
5% |
1% |
3% |
| None of the Above |
40% |
40% |
25% |
31% |
47% |
52% |
| *Multiple choice survey question |
||||||
Americans Willing To Forego Paying Bills, Mortgage and Rent To Travel
In order to take their ideal vacation, the majority of Americans said they would be willing to sacrifice six months of alcohol, cigarettes or coffee (39 percent) or downgrade their personal technology (29 percent) in order to save money.
However, out of all respondents, 12 percent said they would actually ditch paying their bills before any other option. Four percent would go as far as sacrificing their rent or mortgage. Between age groups, those 55 and older were most willing to abandon their bill payments (13 percent) compared to others. More than any other age group, the 45 to 54-year-olds would most rather stop paying rent or their mortgage than sacrifice anything else.
| Which Of These Would You Sacrifice To Take Your Ideal Vacation? |
||||||
| Total |
18-24 Yr Olds |
25-34 Yr Olds |
35-44 Yr Olds |
45-54 Yr Olds |
55-64 Yr Olds |
|
| 6 Months Alcohol/ Cigarettes/Coffee |
38.5% |
43.4% |
42% |
38% |
35% |
34% |
| Downgrading Smartphone / Computer |
29% |
19% |
22% |
28% |
34% |
33% |
| Paying Your Bills |
12% |
11% |
12% |
12% |
9% |
13% |
| Your Body (e.g. selling blood) |
10.5% |
14.3% |
13% |
14% |
8% |
8% |
| Your Job (e.g. lying to employer) |
6% |
10.3% |
7.6% |
4% |
7% |
6% |
| Paying Your Rent/Mortgage |
4% |
2% |
3.5% |
4% |
7% |
6% |
| *Single answer survey question |
||||||
Pre-Approved Quotes:
- "More than anything, financial insecurities prevent Americans from taking their ideal vacation, however, the presumed cost of your ideal trip should not prevent you from traveling," says founder and CEO of Tripping.com, Jen O'Neal. "Staying in a vacation rental is a great way to lower accommodation costs, as well as save in food and parking expenses. Tripping.com helps travelers compare prices of over 2.5 million vacation rentals in destinations all over the world that could fit any traveler's budget."
- "Older millennials are dealing with buying their first home or have new child-related financial obligations that may limit them from experiencing bucket list travel. New growing families may mean travel accommodation prices increase. Staying in a vacation rental is a great option for young families traveling with children and pets given easy access to a kitchen and a backyard."
- "Some American's feel their ideal vacation will be so expensive that they are actually willing to sacrifice their financial obligations such as paying their bills, rent or mortgage. Rather than risking your personal credit to finance that trip to Hawaii, look for travel options to make your trip more affordable options, such as a vacation rental, so you won't need to worry about bill collectors calling when you get back from your relaxing vacation."
ABOUT TRIPPING.COM
Headquartered in San Francisco, Tripping.com is the world's largest vacation rental search engine for vacation homes and short-term rentals. With over 2.5 million properties in over 100,000 global destinations, Tripping.com makes it easy to compare prices and availability for millions of vacation rentals around the world from top travel sites including HomeAway, HouseTrip, FlipKey, Booking.com and more.
SOURCE Tripping.com
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