Young Scots are hol for a foreign adventure
THE traditional image of young Scots going for a fortnight to Magaluf to drink the night away might be a thing of the past, according to research carried out by Bank of Scotland.
These days, more young Scots seem to be choosing a holiday abroad to experience a new culture, learn about themselves or gain perspective on life, according to the latest How Scotland Lives report just released by the bank.
The leading reason Scots of all ages go on holiday is to “relax and unwind”, with almost 60 per cent of those surveyed highlighting this as their main motivation for taking a break.
Almost half of all those questioned said that a holiday is important to “escape or get away from it all”, and this was the second most popular answer. Spending quality time with family and friends completed the top three.
“Our How Scotland Lives research gives us an intriguing insight into how people feel about holidays,” said Ricky Diggins, Director, Bank of Scotland.
“It’s clear how many of our younger generation see travel abroad as a fundamental part of their personal growth and cultural development.
“Holidays are an essential part of their lives so they are prepared to save and make sacrifices in the same way they would for a home and a secure future.” Half chose travel as the top reason they save in the short term and travel is so important to young people that they are prepared to save for the long term too, with over one third noting it as the primary reason for their long term savings.
While the vast majority of Scots pay for their holidays with their personal savings, over one in 10 will use personal credit.
Almost one in 10 holidays are funded by the family, with 18-24-year-olds most likely to benefit from the generosity of their families.
While Scots use a combination of payment methods when they’re abroad, the most popular is cash.
Over one third of Scots use their normal bank account and a quarter use their credit card.
Fourteen per cent of Scots travelling opt for a specialist credit card that offers better value abroad.