56 percent of Boomers would opt for more vacation days over more compensation
In a year where we have been given one extra day, Four Seasons set out to discover what is most meaningful to travelers, looking at both the value of time off and how we choose to spend that time. According to a new global study commissioned by Four Seasons, almost everyone surveyed, across geographies and age groups, valued more vacation time over more money if given the choice, reaffirming that time continues to be the greatest luxury of all. The study of adults from the US, UK, China, and the *GCC revealed that more than half of Millennials (54%), Gen X (53%) and Boomers (56%) would opt for more vacation days over more compensation. Only Gen Z – many of whom have the luxury of more time yet seek financial independence – value a raise (62%) over more days off (38%).
Today’s travelers are seeking purpose through authentic experiences, returning home with a different understanding of the world around them. As a luxury hospitality company, Four Seasons is at the forefront of this shifting consumer desire, and it inspires how to curate the guest experience, ensuring travelers leave Four Seasons with a sense of deep connection to the community and the destination’s culture.
What Comfort Zone?
The survey found that younger travelers – Millennials and Gen Z – are bigger risk-takers compared to Boomers; however, nearly all (95%) respondents agreed that a vacation is when they would be most likely to step outside of their comfort zone. In fact, more than a third of travelers have done something while on holiday that they didn’t know they could, like trying a new sport or learning a new skill to challenge themselves mentally and physically. This is particularly true for respondents in China, where two-thirds (66%) of Chinese adults surveyed say their travel style is better described as “getting out of their comfort zone” versus other markets (45%).
Come Home Different
Reinforcing the notion of a “post-vacation glow,” more than half (51%) of global respondents noted feeling more motivated, more optimistic (46%) and more patient at work (42%) after a holiday. Close to 4 in 5 (79%) Americans agree that after a vacation, they are more productive in the workplace. In the UK, nearly 3 in 5 respondents who’ve “come home different” say they did so with greater positivity or optimism, more appreciation for their loved ones (45%), a better understanding of others’ motivations (39%) and greater ability to manage stress (38%).
Broadening personal horizons can also produce lifelong benefits. Nearly 3 in 5 respondents reported adopting new interests as a result of their travels, such as listening to new music (43%), learning new languages (36%) and appreciating new forms of art (36%). Younger adults are especially eager to take a new path to self-fulfillment while on vacation, with three-quarters of those under 40 picking up a new hobby or interest. The most popular travel takeaway? Universally, the most common new interest across age groups and regions is cooking or eating new foods (56%), reinforcing the importance of unique and authentic dining experiences, something that Four Seasons is known for the world over.