Despite inflation taking a chunk out of family spending power in the UK, only 8 percent of Gen Z respondents in a survey said they would give up vacation plans to cut costs.
But the Advertising Week Europe survey, conducted by Lucid, found a generational divide on the issue. Boomers — people age 68-77 — were the most likely (27 percent) to give up on their holiday dreams because of inflation, which saw the Consumer Prices Index jump 9 percent year over year in April.
“Fewer than half (46 percent) said they would cut back on travel and holidays, indicating cancelling trips already delayed by the pandemic is out of the question for many,” Advertising Week Europe said.
The survey also uncovered regional differences on the issue within the UK. For example, survey respondents in England’s southwest, which includes places like Bristol, were the least likely (9 percent) to quash travel plans because of inflation.
However, survey respondents in England’s east, including London, as well as people in Northern Ireland, were the most ready (23 percent) to cancel their vacation plans.
Meanwhile, plenty of U.S. residents plan to get into their cars or take flights over the upcoming Memorial Day weekend.
The Vacationer found that 60 percent of U.S. adults plan to travel during Memorial Day weekend, up from 27 percent a year ago.