More young adult Australians are choosing to travel with their parents than ever before, new research has revealed.
Conducted by McCrindle and commissioned by P&O Cruises in 2018, study found that more than half (51 per cent) of the respondents have gone on an all-expenses paid holiday with their parents since turning 18.
Furthermore, an 82 per cent majority said they would consider taking a trip with their parents.
Fifty per cent of those surveyed said their prime reason for wanting to holiday with their parents was a desire to spend more time with their family, while only 21 per cent said their main motivation was to save their own money.
McCrindle principal Mark McCrindle said the trend was telling of highly publicised discussions about the Millenial generation being unable to afford their own homes.
“Young Australians experience many financial pressures today, so parents are playing a key role in helping their adult children save, study and now travel,” McCrindle said.
McCrindle said the research showed that while housing affordability was the biggest cause of financial stress for young adult Australians (nominated by 44 per cent of respondents), the second biggest stress trigger was their inability to save for travel (31 per cent).
The survey also found that 71 per cent of respondents regarded travel as a key priority in their life. While almost nine out of 10 (87 per cent) of respondents said they would take more holidays if they could, 78 per cent said they did not have enough money to take more trips.
“When it comes to travel, having a close relationship with mum and dad can clearly have significant benefits – both emotional and financial,” McCrindle said.
More than 80 per cent of those who had already travelled with their parents said they were surprised how much they enjoyed it, while 91 per cent said they’d travel with Mum and Dad again if they had the opportunity.
Asked to nominate the reasons they enjoyed travelling with their parents, 61 per cent of the young adults surveyed said it was a great opportunity to spend quality time with parents.
While 40 per cent said it brought back memories of family time when they were younger, 37 per cent said they had a lot of fun and 33 per cent said they enjoyed being able to travel without spending their own money.
P&O Cruises president Sture Myrmell said the research supports a growing trend observed on-board its cruise ships, with the cruise line reporting an 18 per cent increase in the number of 18- to 29-year-old guests travelling with their parents on holidays last summer, compared to the 2016 peak summer period.
“Cruising is an incredibly affordable way for an extended family to travel, offering an overseas experience for all without the expense of international airfares,” P&O Cruises president Sture Myrmell said.
“[I]t’s a wonderful act of generosity by parents, which means the whole family can continue to explore new horizons together and really carry the bonds of childhood into adulthood.”