Brits overspend by £2,200 on holidays they can't afford - just to keep up with pals
Over half of young Brits are splurging on holidays they can't afford, all in the name of keeping up appearances.
A fresh study from First Choice unveils the extent to which young Brits feel the pressure to maintain a lifestyle beyond their means. A staggering 58 per cent have spent money they don't have on picture-perfect getaways.
Almost four in ten (39 per cent) acknowledge a clear wealth gap between themselves and their wealthier mates, with a significant 57 per cent having struggled to keep pace with friends who earn more than they do.
While a whopping 83 per cent have thought about turning down trips due to the cost, 71 per cent feel compelled to embark on journeys they simply can't afford.
However, the holidays keep coming – with Gen Z and Millennials expected to shell out for an average of SEVEN holidays a year, with 57 per cent feeling embarrassed that they couldn't afford trips their friends and family are taking, reports the Daily Star.
An additional 38 per cent feel disheartened seeing holiday plans unfold on a group WhatsApp chat, knowing they simply can't afford to join.
A massive 73 per cent confess that capturing content for social media is the first thing they think about when planning a holiday, so it's no shock that on average, Gen Z exceed their holiday budget by £2,200.
A quarter (25 per cent) have ended up paying well over the odds for access to exclusive beach clubs, while 23 per cent have purchased holiday outfits that have left them penniless.
A whopping 90 per cent of Gen Z and Millennials surveyed admitted that documenting their lives is a generational expectation, with an average of 20 minutes spent on capturing the perfect shot.
Alarmingly, 43 per cent have resorted to using a credit card to fund a holiday, while the same percentage have dipped into their savings.
A further 18 per cent have used their student loan, and 14 per cent have taken out a loan to cover the cost of pricey holidays. A tenth (11 per cent) have felt like the 'poor' friend in their social circle.
First Choice, however, offers all-inclusive holidays designed for real friends and real budgets, ensuring everyone can enjoy a fantastic getaway without financial strain or compromise.
Kevin Nelson, MD of First Choice, commented: "Our research highlights a real struggle young Brits face in trying to balance their social aspirations with financial realities. First Choice is here to redefine the group holiday experience, demonstrating that you absolutely can have that incredible, shared adventure – full of fun and amazing memories – without compromising your bank balance."
With group trips to Turkey from £185pp, Corfu from £185pp Mallorca from £259pp, and Rhodes from £421, Ibiza from £497pp, – First Choice has a range of cost-effective all-inclusive trips and villas.
For a comprehensive range of group holiday options, all-inclusive price packages and experiences, visit here.
Gen Z's top Insta holiday snaps.
1. Cocktail at Golden Hour 30 per cent.
2. The Airport Pint 27 per cent.
3. The dinner table spread 23 per cent.
4. Walking into the sea 22 per cent.
5. Classic mirror selfie in hotel lift 20 per cent.
6. The Gelato Close-Up 19 per cent.
7. Showing off your #booktok by the pool 18 per cent.
8. Feet (or Toes) by the Pool Shot 17 per cent.
9. The Dramatic Cliff or Mountain Pose 16 per cent.
10. Suitcase packed and ready to go 15 per cent.
11. Fancy "Dinner by the Sea" snap 13 per cent.
12. Infinity Pool + Distant Mountains 13 per cent.
13. A Local Beer Pic 13 per cent.
14. Standing in the sea with wet hair 13 per cent.
15. Aesthetic shot of your beach bag 12 per cent.
16. Wandering through winding streets 11 per cent.
17. The holiday manicure 11 per cent.
18. Sunburn Selfie (Accidental or Brag) 10 per cent.
19. Boat Trip + hair in the wind shot 10 per cent.
20. The Floating Breakfast in a Pool (Bali Version) 9 per cent.
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