Australian Gen Z and Millennials are choosing travel over big-ticket purchases and small daily indulgences, cutting back on non-essential shopping and treats to fund their next getaway.
Amid increasing living costs, Australians are becoming savvier about saving and spending with some surprising shifts in behaviour.
The Skyscanner x Up app study shows young Aussies are cutting back on concerts, coffees, cars and home upgrades to prioritise travel.
More than half (57%) say they will scale down non-essential shopping, two in five (40%) will cut back the daily coffee run and 40 per cent will skip music concerts and festivals to prioritise travel.
Meanwhile, more than one-third of Aussies (35%) say they will hold off on household upgrades and postpone buying a car (32%) in order to save for travel.
Skyscanner data shows that nearly half (47%) base their travel plans on the affordability of the destination and more than half (58%) are influenced by flight prices.
Aussies are also smarter when planning, with more than half (53%) booking flights early and 52 per cent pre-paying major expenses to manage budgets.
Skyscanner noted the top 10 destinations Aussies can fly to for under AUD$2,000 are Japan, Vanuatu, Fiji, Italy, the UK, France, Belgium, Ireland, Finland and Barbados.
Skyscanner found that 25 per cent of Aussies have a dedicated travel savings account, while another 25 per cent regularly set aside physical cash towards their travel dreams.
Tools, such as price drop alerts and savings apps, are also assisting Aussies to budget and get the most from their travel funds.
