Vacation in focus: 42% of Germans save on expenses!

Vacation in focus: 42% of Germans save on expenses!

In Germany there is a clear priority in the population's spending planning: vacations have a high priority. According to a study by the price comparison portal Idealo, which was carried out by Kantar, 42 percent of Germans save for their trips. The survey in May included around 2,000 people aged 18 to 64 who regularly shop online. The results make it clear that financial conditions are crucial, as almost two thirds of those surveyed say they are worried about not making ends meet. In addition, 42 percent had to fall back on financial reserves last year.

The reasons for saving are varied. 39 percent of those surveyed stated that they also need financial reserves for other areas of life such as retirement provision (32 percent) or larger purchases (28 percent). It turns out that younger generations save money, particularly on food, while older people tend to cut corners on clothing. High savings were also found in leisure activities and gastronomy, where one in two respondents stated that they were making cuts. Cinemas, concerts and festivals are particularly suffering from the current consumer mood, with 46 percent saving in this area.

Generations and their travel behavior

A look at different generations also shows how different travel behavior is. A study by DERTOUR Austria, which was carried out by the Ipsos Institute, highlights the travel trends among the Baby Boomer, Generation X, Generation Y (Millennials) and Generation Z generations. A total of almost 1,000 people were surveyed. The results show that Generation Z – aged 18 to 30 – is particularly keen on traveling and has Europe as their preferred holiday destination, with Spain being particularly popular.

71 percent of those surveyed in this study cite price as a decisive factor for their vacation bookings. On average, respondents take up to three trips per year, with the average travel duration being around six days. Notably, 60 percent of respondents consider sustainable travel important, and a third would be willing to pay more for eco-friendly travel. Generation Z in particular shows a clear trend in this direction, with a willingness of 50 percent to spend more money on sustainable options.

Saving behavior and information

The savings behavior also shows that consumers are also making cuts in hobby and leisure items as well as electronics. 41 percent of those surveyed save on hobby items and 40 percent on electronic products. To minimize spending, consumers use different strategies: 64 percent compare prices, 56 percent pay attention to special offers, and 46 percent use discount coupons.

The differences between generations in terms of travel behavior are complex. Baby Boomers often have more time and money for travel, while Generations X and Y are more constrained by work commitments and family life. Overall, consumer behavior remains strongly influenced by external economic conditions, as current surveys indicate.

The significant savings in the areas of leisure and gastronomy, combined with the different priorities of the generations, show how complex the travel behavior and saving behavior of Germans is. Nevertheless, the longing for vacation and new experiences remains a constant factor in life planning.

For further information on the research results, the articles can be found on South Germans and DERTOUR be read.