Millennials Willing to Acquire Debt for Travel Experiences

Many studies have shown that Millennials value experiences more than they do material possessions. A recent study conducted by Vrbo not only confirms this finding, but reveals that Millennials not only desire experiences, but they are willing to go in to debt for those experiences. This age group is not willing to put off their vacations or getaways simply because they currently cannot afford it. Among Millennials, 45% are traveling purely for exploration this year. On the other hand, Baby Boomers and Generation X-ers are not likely to go in to debt for travel (27% and 15%, respectively) and will mainly travel in celebration of a milestone or to see family. (Travel Pulse, 05.15.19)