In Brief: A survey commissioned by World of Hyatt found that financial pressure is shaping travel decisions for many Americans, with 51% saying travel rewards made a trip possible that they otherwise couldn’t have taken. Respondents also identified limited finances, time off work and complicated planning as barriers to traveling more often.
-
Survey Finds Younger Travelers Rely More Heavily on Rewards Programs – Image Credit Hyatt
Survey Examines Travel Budgets
Seven in 10 Americans said they feel pressure to ensure every trip is worth the money, according to a survey of 2,000 people conducted by Talker Research and commissioned by World of Hyatt.
Ninety percent of respondents said vacations are important for their mental health, while 85% said they are necessary to help avoid burnout.
Forty-three percent identified limited finances as the largest barrier to traveling more, followed by 26% who cited difficulty taking time off from work.
Rewards Affect Whether Trips Happen
More than half of respondents, or 51%, said they had taken a trip that would not have been possible without travel rewards. Nearly three-quarters, or 74%, said rewards made travel spending feel more worthwhile.
Respondents estimated that rewards cover an average of 40% of a typical vacation’s cost. Thirty percent said rewards help offset travel costs, and 27% said they encourage them to plan future trips.
Younger Respondents Report Greater Reliance
Gen Z and millennial respondents reported a stronger connection to travel rewards than older groups. Eighty-four percent of Gen Z travelers and 77% of millennials said rewards make travel spending feel more worthwhile, compared with 68% of Gen X respondents and 58% of baby boomers.
Gen Z respondents estimated that rewards pay for 50% of a typical vacation, while millennials estimated 44%. Gen X respondents estimated rewards cover 33% of vacation costs, and baby boomers estimated 23%.
Planning and Deal Searches Create Delays
Forty-two percent of respondents said they abandoned trip plans because organizing them became too overwhelming.
Forty-eight percent said they had delayed booking because they worried a better deal might become available later. Another 44% said they had skipped booking a trip altogether for the same reason.
Nineteen percent described rewards as complicated, and 18% said they were time-consuming to manage.