Despite increased pressure on finances, more than a quarter of young people said they would spend between £2,000 to £4,000 on travel, with a further 13% budgeting £4,000 to £6,000 on a trip this year. 

The data comes from youth travel specialist Kilroy’s latest Youth Travel Insight Report, which also revealed a shift in destination preference among the younger generation, with Europe (41%) topping the list of most popular regions for travel.

Meanwhile, 27% of 18- to 35-year-olds are planning to visit North America, the second-most popular destination, and 20% are looking to travel to south-east Asia. 

"Pre-Covid, older travellers were typically the biggest spenders on holidays and trips abroad," said Hollie Youlden, head of UK marketing at Kilroy.

"Whether it’s a trip to celebrate a milestone birthday, an overdue getaway or a more profound need to make the most of life, many young people are not letting the current economic situation get in their way of exploring the world."

Elsewhere, the desire to travel for longer periods of time was found to be strong among this segment of traveller, with 15% of respondents considering a trip of between one to six months in duration. 

 
The study, which was conducted online in February 2023, surveyed 800 people in England aged 18-35 about their holiday plans in 2023.