YOLO: 19% of US Travelers Upgrade to First-Class

DALLAS — As the holiday season approaches, our latest research reveals surprising trends in luxury travel: Nearly 1 in 5 air travelers have opted for premium experiences. But who exactly is splurging on first-class seats and private jets?

A recent study by Jettly, a private jet charter technology company, explores generational differences, spending habits, and other factors influencing air travel choices. The study surveyed 1,006 Americans planning to travel for the 2024 holiday season.

Of the respondents, 19% were Gen Z, 54% were millennials, 22% were Gen X, and 5% were baby boomers. The gender breakdown was 48% women, 51% men, and 1% non-binary individuals. The data was collected in September 2024.

This article uncovers the motivations behind these high-end experiences and what they could mean for the travel industry. From Gen Z's unexpected lead in luxury upgrades to the average splurge amount, get ready to find out how America is reimagining holiday travel.

Key Takeaways

• 79% of holiday travelers plan to travel by air this season, with nearly 1 in 5 upgrading to luxury travel options like first-class or private jets.
• Gen Z air travelers (23%) are leading the trend in upgrading to luxury travel — more than any other generation.
• Price is the top priority for air travelers, with 58% considering it the most important factor.
• Nearly 2 in 5 holiday travelers plan to splurge this season, with an average spend of US$2,600 and 22% intending to spend over US$5,000.
• 55% of holiday travelers have indulged in premium experiences or luxury trips they couldn't afford.
• YOLO (You-Only-Live-Once) travel is trending: Nearly 1 in 3 Americans (31%) are embracing "you only live once" trips this holiday season.

Taking to the Skies for the Holidays

• 79% of holiday travelers plan to travel by air this season, with nearly 1 in 5 upgrading to luxury travel options like first-class or private jets. Gen Z is the most likely generation to have upgraded to luxury travel (23%).
• Gen Z (20%) is the most likely generation to plan international flights this holiday season, while millennials (68%) are the most likely to prefer domestic travel.
• Percentage of holiday air travelers planning to upgrade to luxury travel by generation:
• Gen X: 20%
• Millennials: 19%
• Gen Z: 23%
• Price is the top priority among all air travelers when flying (58%), followed by comfort (24%). Luxury air travelers care less about price (37%) and more about comfort (32%) than the average flyer.
• Factors driving Americans' decisions to skip air travel this holiday season:
• High costs of flights: 68%
• Prefer driving: 51%
• To avoid holiday stress: 39%
• To avoid crowded airports: 32%
• To avoid flight delays and cancellations: 23%

Luxury Holiday Spending

• YOLO spending is trending: Nearly 1 in 3 Americans (31%) are embracing "you only live once" trips this holiday season.
• Nearly 40% of holiday travelers plan to splurge this season, spending an average of US$2,600; 22% intend to spend over US$5,000.
• How much Americans planning to splurge on holiday travel this year intend to spend on each holiday:
• New Year's Eve: US$3,164
• Christmas: US$2,643
• Thanksgiving: US$2,244
• 55% of holiday travelers have indulged in premium experiences or luxury trips they couldn't afford. This includes 59% of Gen X, 56% of millennials, and 49% of Gen Z.
• New Year's holiday travelers (48%) are the most likely to seek out Michelin-star dining or exclusive culinary experiences.
• New Year's holiday travelers (25%) are the most likely to seek out VIP events, private parties, or exclusive gatherings.

The 'YOLO' Mentality

Justin Crabbe, Travel Expert at Jettly, states, "Luxury air travel is no longer reserved for a niche audience; close to 20% of travelers in 2024 have already chosen premium options like first-class or private jets, and this is likely only to increase. The notable 23% rate of adoption for luxury upgrades among Gen Z signals a pivot among younger travelers toward prioritizing experiences over cost."

"Moreover, the 'YOLO' mentality remains strong, with close to a third of Americans spending extravagantly on trips, showing that many are willing to splurge on unique travel experiences. For 2025, travel forecasting should consider these behavioral shifts along with economic factors such as inflation and airfare costs," adds Crabbe.

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