There’s nothing better than going on a business trip that’s all paid for, even if it does mean clocking in some extra hours. The opportunity that comes with travelling around the world as part of your job is what many Gen Z and Millennials are seeking.
It’s no secret that Gen Z would rather spend their money on experiences rather than material goods, and in today’s corporate world, the younger generations are happy with their company perks that include experiences like spa treatments and gym classes.
According to Hotels.com, many young people are using business trips as a lifestyle upgrade, with approximately 28% of Gen Z experiencing a spa treatment and 20% choosing workout classes. Some wouldn’t even hesitate to spend a extra money to elevate their travel experiences.
The study also found that many Gen Z and Millennials are more likely to expense their flights or upgrade their rooms and entertainment options, compared to older generations who would use the money on private cars or pay for taxis to avoid public transport.
Whether it’s bringing a plus one or extending your trip for a few days after the work is done, 55% of business travellers believe that the chance of visiting a destination provided by the company is one of the biggest perks, and a flex.
Nonetheless, many Gen Z adults already prioritise that lifestyle on a day-to-day basis. A gym membership, skincare treatments, or getting their lashes and nails once a month – they’re classified as ‘essential’ bills.
Hotels.com’s newest loyalty feature, Save Your Way, offers travellers the chance to choose between using their member savings immediately or saving their discounts and rewards for their next travels. This benefit is ideal for those who prefer to build up their rewards and upgrade their travels whenever it’s suitable for the best deals.
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As reported by LBC, research by Intuit Credit Karma said that many adults are “extending their view of necessities beyond bills such as utilities and groceries, indicating that young adults are increasingly concerned with looking after their overall wellbeing.” Other ‘essential’ bills included getting new clothes and socialising.
Akansha Nath, a general manager at Intuit Credit Karma, explained: “Gen Z is refining the meaning of essential spending, ensuring their emotional and physical health, and social needs are met too.”
“However, this shift comes with financial trade-offs, with some adults taking on debt to maintain their lifestyle. Tools like credit monitoring and responsible borrowing can help ensure financial stability while maintaining your ideal standard of living.”
In other words, Gen Z prioritises an immediate better quality of life by living the present, rather than thinking about their futures.
