Why Are People Spending More Money On Travel Than Anything Else?

The travel industry made up over 7.6 trillion dollars in the U.S. in 2016. It’s one of the largest industries on the planet. With all the available products to buy on the market, including toys, automobiles, houses, and technology gadgets, why are people spending more money on travel than anything else these days?

1. Experiences Make You Happier Than Material Goods

Growing research shows that as far as happiness goes, experiences trump material possessions every time.  What does that mean in real life? It means that a weekend trip to a dude ranch is a better use of your money than running out and buying a new Samsung phone.

2. It’s Easier to Travel Than Ever Before

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Despite the headlines in the news about airline “mistakes,” people are taking to the friendly skies more often. Why? Because with all the travel booking sites available, it’s easier to make travel plans than ever before. You don’t have to sit patiently while a travel agent plunks away on some antiquated computer. Instead, just a few clicks on your cell phone, and you’re just a week away from your spot on the beach in Bora Bora.

3. The World is Getting Smaller

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Okay, not really, but it sure feels that way. The average person knows more about distant lands than their parents knew 50 years ago. And with a little knowledge comes a burning curiosity to see those foreign places for ourselves. Costa Rica isn’t some scary sounding country anymore – it’s a possible destination wedding location.

4. People Want to Get to Know Their Own Backyard

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It isn’t just foreign lands that are enticing people to spend more money on travel than anything else. The backyard beckons. Places like National Parks and Disney amusement parks are revving up their marketing strategies, making people want to jump in their RVs and hit the road.

5. The Price of Gas is Reasonable

car

Just a few years ago, people were predicting that the price of gasoline would soar to over four dollars a gallon. In fact, in some places, it did. But the price of gasoline has since dropped to reasonable levels, making it financially viable for families to travel together in their own or rented vehicles.

6. Consumerism is Outdated

new york

The days of consumerism are gone, at least for now. The trend is to own less. Think tiny houses and minimalism. Ostentatious consumer spending is even more frowned upon. So where to spend that discretionary income? On travel, of course!  Are you looking for interesting yet inexpensive travel destinations at home or abroad? Contact us!

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