New research from Skyscanner has uncovered a new trend that young Aussies are all over: Splurget Travel.
A hybrid of budget and splurging, splurget travel is a holiday that is planned on a tight budget but includes a luxury element.
For instance, a splurget traveller would spend majority of their holiday (and travel budget) backpacking or staying in hostels, but would take the ‘when in Rome’ approach and splurge on a small portion such as staying one night in a 4 or 5–star hotel, or treating themselves to meal at a Michelin starred restaurant.
Millennials are embracing this trend with 71 per cent of young Aussies (18–29 years old) already travelling in this way, and of those who have not travelled in such a manner, 63 per cent said that they would consider embarking on a splurget holiday in the future.
Travellers aged 40 and above, who have greater spending power, were less inclined to travel in such a manner.
According to Skyscanner, motivators to embark on a splurget holiday were revealed with two key insights: the desire to get an authentic local experience, without compromising on the need for self-pampering, and being that selective splurging and scrimping was seen as an effective way of managing travel budget.
The survey also found that millennials are most willing to spend big on activities such private tours, spa therapy and cultural experiences.
Flights, on the other hand, was an area young Aussies are most willing to save on. More than half indicated they would save on flights by booking a budget airline, taking a red-eye flight, or enduring multiple stopovers if it meant they had more money for activities on their holiday.
Although food is often cited as a top motivator for travel, surprisingly, only 14 per cent of Australians are willing to splurge on fine dining options when abroad.
For tips on how to splurget, go here.