Australians are spending their tax returns on travel
Where are you planning to put your hard-earned tax return to?
Australians want to travel, and far prefer lifetime experiences to things. That was the main takeaway following a survey of more than 1,000 Australians conducted by Lonergan Research.
This study asked Australians what they wanted to spend their tax returns on. Admittedly, it was commissioned by G Adventures, a travel company, but it still squares with most other research.
- 89% of Australians would prefer to spend their tax return on travel, over partying and nights out.
- 59% would prefer to spend their money on travel, rather than investing it.
- 48% would prefer to spend their tax return on travel rather than paying off debts or or credit cards.
It's not empty talk either, with about half saying that they plan on spending at least some of their tax return on travel, and 76% saying they generally prefer to spend their money on experiences rather than things.
"In an age of consumerism, this research tells us that Australians want their hard-earned money to go to something more meaningful," said Adrian Piotto, managing director of G Adventures. "We know the power that a life-changing travel experience can have." Other businesses are already on board.
For example, when Airbnb launched the Trips "experience" platform, the rental brand referred to it as the most significant development in the company's history, and the rapid growth of the dark tourism industry tells the same story, of travellers increasingly seeking out real experiences rather than manufactured ones.
The same trends seem to be particularly pronounced among millenials, and are being echoed internationally. In the USA, an Eventbrite survey says 78% of millennials would rather spend money on experiences than possessions, while the 2016 annual Chinese International Travel Monitor report found that Chinese mainlanders were very keen on travel, but less enthusiastic about shopping than ever before.
The 48% of Australians who'd rather not pay off their debts might be taking it a little far, but the 59% who'd rather make prudent investments in lifetime experiences, rather than risky wagers on tangibles, might be on the right track. To help out, G Adventures has released a list of tours you can get for under $1,000 and under $1,500.
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