Ipswich travel firm says people are choosing to 'live for now' as saving feels out of reach
Research found 28% of people said they regretted putting career progression ahead of travel.
Nearly half of people surveyed by a local travel agent say saving for the future feels so far out of reach that they are instead choosing to focus on enjoying life now.
The research, shared by Ipswich-based Fred. Olsen Cruise Lines, found 48% of respondents said they were prioritising "living their best life now", while 28% said they regretted putting career progression ahead of travel.
Doug Glenwright, Guest Experience Director at the company, said the findings suggested some people's attitudes towards spending and experiences were changing.
Speaking to us, he said respondents wanted to save for their futures but for many it increasingly felt like an "unachievable target".
He said: "What they're doing instead is focusing on living their best life now."
Mr Glenwright said the company's research was designed in part to better understand its customers, including their lives and spending habits.
From putting others first to ticking off the bucket list
Mr Glenwright said the trend was particularly relevant to Fred. Olsen's predominantly over-55 customer base, with some reaching a stage of life where their children were older and they had greater freedom over when and how they travelled.
He said some customers had previously put their own travel ambitions "on the back burner" while prioritising other people's needs.
That could now be changing, he said, with people considering longer holidays, travelling more regularly or pursuing once-in-a-lifetime experiences they had previously postponed.
Examples included seeing the Northern Lights, visiting the Norwegian fjords or travelling to Antarctica.
Mr Glenwright said the company was also hearing from people who felt they had previously prioritised their careers over life experiences and now regretted doing so.
He suggested the cost-of-living crisis had also affected people's experiences, with some now wanting to invest more in themselves and the things they were passionate about.
Holidays don't always have to be together
The research comes amid wider changes in the way some people approach holidays, including growing interest in travelling independently.
The information supplied alongside the research cited reports from Booking.com suggesting 40% of its users had taken a solo trip during the previous year.
However, Mr Glenwright said travelling independently did not necessarily mean being single.
He said some couples were becoming more comfortable taking separate trips based on their individual interests, giving the example of one partner choosing a golfing holiday while the other opted for a cruise.
"It's about investing in what my, I guess, preferences are," he said.
Mr Glenwright said he believed people should feel able to invest in themselves, arguing that having separate experiences could also give couples new stories and experiences to share when they returned home.
What does the shift mean for the travel industry?
Mr Glenwright said changing priorities also meant travel businesses needed to become increasingly focused on individual customers' preferences.
Rather than trying to appeal equally to everyone, he said Fred. Olsen was increasingly concentrating on the needs of its core customer base.
The company predominantly targets people aged over 55, who Mr Glenwright said tended to be more "financially robust" than some younger demographics which may have been more affected by pressures on household finances.
He added that affordability remained an important consideration and said the company had made changes intended to demonstrate value, including incorporating gratuities and selected drinks at lunch and dinner into its cruise prices.
For Mr Glenwright, the wider message from the research is that there may not always be a perfect moment to pursue experiences people have previously postponed.
For some travellers, he said, reaching a different stage of life was providing the opportunity to put their own interests first and finally start working through their bucket lists.