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Yahoo
6 days ago
- Business
- Yahoo
Here's How Millennials Are Planning Their Travel in 2025 — Is It Saving Them Money?
surveyed 2,500 American millennials and found that 76% of them considered affordability the most important factor when deciding on summer travel plans for 2025. The respondents noted that they were seeking out budget airlines, embracing off-peak season travel and sharing accommodations. Explore More: Read Next: Here's how millennials are planning travel this year and whether these options can help them save money. The study found that 58% of millennials planned to work while traveling since they have either remote or hybrid roles. The concept of 'workcationing' has gained popularity, with 73% of millennials planning to stay two weeks or longer at their destination. However, there are some pros and cons to consider with this travel approach. Check Out: Working while traveling is a great way to still earn income. Plus, it can allow you to extend your stay. If you're planning to work while traveling and want to embrace house hacking, this option can help save money while you travel. You can sublease your unit or rent out a portion of your home when you travel to ensure a steady income while you're away from home. This means that you'll be earning money through your job and home as you go on trips. However, 'workcationing' could come with some challenges. 'It sounds like the holy grail of balance, but the reality is often quite different,' said Georgia Fowkes, a travel advisor at Altezza Travel. 'Remote work does offer flexibility, but whether or not you'll save money really depends on your discipline.' Without a structure and clear boundaries between work and leisure, you can burn through money with this option. While you may have an income coming in, you could stay on the road longer and spend more money than you expected to. 'It turns your trip from a true vacation into another workweek in a different location, and it depends heavily on things like reliable Wi-Fi, time zone compatibility and being disciplined with your schedule,' said Alicia Walter, a travel expert and co-founder of The Passport Couple. You also risk having your work suffer due to time zone issues and challenges in finding the proper workspace. You may not be as productive as you would like to be, and this could lead to other financial problems. With 67% of respondents admitting to using AI-powered tools like ChatGPT or Gemini to make travel plans, it's clear that these programs are like modern-day travel agents. These AI tools are helpful for building travel itineraries, discovering local activities and booking accommodations. But there are some things to be aware of. You can plan a trip with AI and build the ideal itinerary for your goals, but you'll want to use the right prompts and ensure that you cross-check prices to get the best deal. You don't want to blindly use chatbots and then end up with a more expensive trip. And AI assistance doesn't have to end once your trip is booked. Walter pointed out that ChatGPT has helped answer random money-related questions while on the road, such as figuring out local tipping customs or determining the best way to get from the airport to the city center via public transportation. Social media platforms are influencing where millennials travel, with 71% sharing that they rely on TikTok, Instagram and YouTube for destination ideas. Here's what to consider about using social media to choose travel destinations. Fowkes emphasized that social media is a highlight reel, not a budget planner. 'Those picturesque spots trending on TikTok are often overrun and overpriced,' she said. When someone posts a gorgeous photo of a trip, remember that they're choosing what to show and there's more to the story. The harsh reality is that travelers can easily blow their budgets trying to replicate the curated experience of an influencer, especially since a person promoting a location could've gone there for free in exchange for the mention. You'll want to ensure that you verify the prices in advance so that you don't overspend on an overrated experience. Walter shared that she has found some amazing, affordable gems, such as Berat, Albania, and Budva, Montenegro, through Instagram and TikTok. However, she warned that once a destination goes viral, the prices can increase rapidly. A budget-friendly location can suddenly become packed with tourists and overpriced due to a lack of availability. Your best bet is to use social media as inspiration, but conduct your own research to find options that align with your travel style and budget. 'Micro adventures' are also on the rise, per the study, with 54% of millennials stating that they preferred shorter and more frequent trips over longer summer escapes. Notable activities gaining traction include camping weekends, shorter road trips and visits to national parks. Here are some benefits to choosing shorter vacations. Fowkes emphasized that 'micro adventures' can allow for a quick getaway to recharge, relax and reclaim lost inspiration. And it can save money. A long weekend in Mexico City, rather than a two-week European grand tour, will be much cheaper. When planning a shorter trip, you can be more flexible with your timing and look out for deals. This can be a budget-friendly option if you avoid peak weekends and plan in advance. You could also escape for a weekend without taking any time off from work by going on a Friday or working remotely for a few hours. It's also worth mentioning that you can combine travel planning strategies on this plan to maximize your savings. For example, you can use social media as an inspiration for travel options, which you then filter through AI-powered tools to make a final decision. Then you can determine whether it's possible to work remotely from the destination or whether it's worth checking out for a weekend. More From GOBankingRates 5 Types of Cars Retirees Should Stay Away From Buying This article originally appeared on Here's How Millennials Are Planning Their Travel in 2025 — Is It Saving Them Money?
Yahoo
6 days ago
- Business
- Yahoo
Here's How Millennials Are Planning Their Travel in 2025 — Is It Saving Them Money?
surveyed 2,500 American millennials and found that 76% of them considered affordability the most important factor when deciding on summer travel plans for 2025. The respondents noted that they were seeking out budget airlines, embracing off-peak season travel and sharing accommodations. Explore More: Read Next: Here's how millennials are planning travel this year and whether these options can help them save money. The study found that 58% of millennials planned to work while traveling since they have either remote or hybrid roles. The concept of 'workcationing' has gained popularity, with 73% of millennials planning to stay two weeks or longer at their destination. However, there are some pros and cons to consider with this travel approach. Check Out: Working while traveling is a great way to still earn income. Plus, it can allow you to extend your stay. If you're planning to work while traveling and want to embrace house hacking, this option can help save money while you travel. You can sublease your unit or rent out a portion of your home when you travel to ensure a steady income while you're away from home. This means that you'll be earning money through your job and home as you go on trips. However, 'workcationing' could come with some challenges. 'It sounds like the holy grail of balance, but the reality is often quite different,' said Georgia Fowkes, a travel advisor at Altezza Travel. 'Remote work does offer flexibility, but whether or not you'll save money really depends on your discipline.' Without a structure and clear boundaries between work and leisure, you can burn through money with this option. While you may have an income coming in, you could stay on the road longer and spend more money than you expected to. 'It turns your trip from a true vacation into another workweek in a different location, and it depends heavily on things like reliable Wi-Fi, time zone compatibility and being disciplined with your schedule,' said Alicia Walter, a travel expert and co-founder of The Passport Couple. You also risk having your work suffer due to time zone issues and challenges in finding the proper workspace. You may not be as productive as you would like to be, and this could lead to other financial problems. With 67% of respondents admitting to using AI-powered tools like ChatGPT or Gemini to make travel plans, it's clear that these programs are like modern-day travel agents. These AI tools are helpful for building travel itineraries, discovering local activities and booking accommodations. But there are some things to be aware of. You can plan a trip with AI and build the ideal itinerary for your goals, but you'll want to use the right prompts and ensure that you cross-check prices to get the best deal. You don't want to blindly use chatbots and then end up with a more expensive trip. And AI assistance doesn't have to end once your trip is booked. Walter pointed out that ChatGPT has helped answer random money-related questions while on the road, such as figuring out local tipping customs or determining the best way to get from the airport to the city center via public transportation. Social media platforms are influencing where millennials travel, with 71% sharing that they rely on TikTok, Instagram and YouTube for destination ideas. Here's what to consider about using social media to choose travel destinations. Fowkes emphasized that social media is a highlight reel, not a budget planner. 'Those picturesque spots trending on TikTok are often overrun and overpriced,' she said. When someone posts a gorgeous photo of a trip, remember that they're choosing what to show and there's more to the story. The harsh reality is that travelers can easily blow their budgets trying to replicate the curated experience of an influencer, especially since a person promoting a location could've gone there for free in exchange for the mention. You'll want to ensure that you verify the prices in advance so that you don't overspend on an overrated experience. Walter shared that she has found some amazing, affordable gems, such as Berat, Albania, and Budva, Montenegro, through Instagram and TikTok. However, she warned that once a destination goes viral, the prices can increase rapidly. A budget-friendly location can suddenly become packed with tourists and overpriced due to a lack of availability. Your best bet is to use social media as inspiration, but conduct your own research to find options that align with your travel style and budget. 'Micro adventures' are also on the rise, per the study, with 54% of millennials stating that they preferred shorter and more frequent trips over longer summer escapes. Notable activities gaining traction include camping weekends, shorter road trips and visits to national parks. Here are some benefits to choosing shorter vacations. Fowkes emphasized that 'micro adventures' can allow for a quick getaway to recharge, relax and reclaim lost inspiration. And it can save money. A long weekend in Mexico City, rather than a two-week European grand tour, will be much cheaper. When planning a shorter trip, you can be more flexible with your timing and look out for deals. This can be a budget-friendly option if you avoid peak weekends and plan in advance. You could also escape for a weekend without taking any time off from work by going on a Friday or working remotely for a few hours. It's also worth mentioning that you can combine travel planning strategies on this plan to maximize your savings. For example, you can use social media as an inspiration for travel options, which you then filter through AI-powered tools to make a final decision. Then you can determine whether it's possible to work remotely from the destination or whether it's worth checking out for a weekend. More From GOBankingRates 6 Big Shakeups Coming to Social Security in 2025 This article originally appeared on Here's How Millennials Are Planning Their Travel in 2025 — Is It Saving Them Money?
Yahoo
12-05-2025
- Business
- Yahoo
Americans Hit the Road as Economic Fears Discourage Flying
(Bloomberg) -- A New Central Park Amenity, Tailored to Its East Harlem Neighbors As Trump Reshapes Housing Policy, Renters Face Rollback of Rights What's Behind the Rise in Serious Injuries on New York City's Streets? NYC Warns of 17% Drop in Foreign Tourists Due to Trump Policies LA Mayor Credits Trump on Fire Aid, Stays Wary on Immigration Kristin Herman and her partner had been planning a European getaway with stops in Paris and Rome, but with the US economy suddenly wobbling, the couple instead drove to Oregon's nearby redwood forests and Cannon Beach — even camping some nights to save on hotels. 'It didn't feel like the right time to spend so much money,' said Herman, a 37-year-old who lives in Portland and works as an educator at 'Especially when groceries and rent got more expensive as well.' As President Donald Trump's global trade war rattles consumer confidence and threatens to reignite inflation, US travelers are increasingly opting for road trips over flights. About 39.4 million Americans will drive this Memorial Day weekend, up 3.1% from last year and the most in 20 years, according to the American Automobile Association. Some 3.61 million people plan to fly, only a 1.7% gain. Adding to the allure of road trips, oil prices have dropped to near a four-year low, pushing down gasoline costs. The national average pump price was about $3.14 a gallon Sunday, almost 50 cents a gallon cheaper than a year earlier, AAA data show. US gasoline prices will remain at roughly that level in the second and third quarter, the Energy Information Administration projects. Meanwhile, domestic flights are 2% more expensive this Memorial Day weekend compared to the same period last year, with an average round-trip ticket costing $850, the AAA said. That's being driven partly by bargain airlines moving upscale and raising fares. Concerns surrounding airplane safety in light of a few high-profile incidents are also giving travelers pause. The turmoil has led several US airlines to withdraw their full-year earnings forecasts. Beyond the pricing factors, recent stock market volatility pushed nearly 68% of travelers to alter their vacation plans, from paying upfront to counteract a weakening dollar to canceling altogether, data from travel tech company Histoury shows. For Julie Brinkman, Americans' rapidly changing travel plans remind her of the shift during the sweeping flight restrictions and lockdowns to fight Covid-19 in March 2020. Travelers are increasingly opting for destinations like the Gulf Coast, Gold Coast and Smoky Mountains over overseas markets, said Brinkman, chief executive officer of Beyond, a revenue manager for vacation rentals. 'People still want to take trips, but those trips might be closer to home,' Brinkman said. 'They're also waiting longer to book. They need to know that they have job security, that they're able to fund their trip.' Energy research firm Wood Mackenzie now sees US jet fuel demand falling 0.7% in 2025, compared to the 1.1% advance it projected at the start of the year. The revision accounts for diminished travel spending as consumers sour on the Trump administration's economic stewardship, said Austin Lin, an analyst for the firm. In the meantime, jet fuel demand is still at the highest since 2019 for this time of year on a four-week-average basis, according to US government data. 'There's an emotional component to the market,' Lin said. Even if the trade war is resolved quickly, the memory of markets' sudden plunge will keep a lid on discretionary spending, he said. The richest Americans, who saw their wealth shrink in the recent stock market slide, also are reshaping vacation plans. Travel Beyond — which specializes in trips that average $22,000 per person and feature exotic locales ranging from the Arctic to Africa — saw inquiries in March fall 20% from a year earlier, followed by a 14% drop in April. So far, at least one client has explicitly cited economic uncertainty in canceling an upcoming trip, while others are adjusting departure dates to capture off-peak prices, according to Kayla Hoyles, a travel adviser at the Minnesota-based firm. For Oregonian traveler Herman, financial constraints are limiting her Memorial Day weekend plans to either a day trip or nothing at all. Even though Trump's tariffs aren't yet showing up in prices, she says she's already stressed about living costs. 'It feels like we're all being squeezed from every angle,' Herman said. 'And it makes it harder to plan anything long-term.' (Updates gasoline prices in fourth paragraph, adds jet fuel demand figures in ninth paragraph) US Border Towns Are Being Ravaged by Canada's Furious Boycott How the Lizard King Built a Reptile Empire Selling $50,000 Geckos Maybe AI Slop Is Killing the Internet, After All With the New York Liberty, Clara Wu Tsai Aims for the First $1 Billion Women's Sports Franchise The Recession Chatter Is Getting Louder. Watch These Metrics ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
