Why do Millennials and Gen Xers prioritize vacation over housing payments?

As we were talking about at the top of the show, a new week brings new issues concerning Boeing planes, the latest being an investigation by the US Federal Aviation Administration over concerns that the 787 Dreamliner model is compromised. Travel expert Claire Newell joins us with those details. Claire, what more can you tell us about this investigation? Well, like you say, another week, another headline for Boeing and unfortunately this is another model of aircraft. We’ve talked week after week Carolyn about the fact that the 737900 series has been the one that’s been embattled and now we’ve got a situation with their the flagship of many Canadian carriers, Air Canada and WestJet 7-8 Sevens as well as Sevens 77 Dreamliners. And so this brings another sense of fear. It’s a different model and FAA is looking into this. This has been put forward by a whistleblower who is a former engineer and saying that some of the parts have been compromised and that it could deteriorate quicker than than it should. So FAA is involved and as you said at the top, this is an allegation. Boeing is, you know, standing strong against this thing. It’s not the case, but it is concerning again. So Claire, there’s another investigation that was launched earlier in the week after an engine Cowling on the Boeing plane fell off during take off. Yes, this is a this is a situation with a 737800 series. You’re showing the Southwest aircraft and it looks horrible. While these issues are really bad for Boeing, this was a nine year old aircraft. It went into service in 2015 and so I’m not an airline maintenance specialist, but you would have to think that would have to be looked at also by the maintenance issue side from Southwest as well as the airline, but again another situation where FAA is involved. Luckily on this no one was injured and the the people were put onto another aircraft. All right. Now Claire, despite these concerns, travel tourism set to break records this year according to some new numbers. Well more. Can you tell us about what you’re seeing in the trends? Well the trends came out actually by the World Travel and Tourism Council and but the the the situation is, is that people are skipping housing payments. That was the headline of one in 10 Canadians aged 1840. And and I think this is risky, but it does show that this is how much people value travel and 61% of people are are resolute about the fact what you’re seeing is the World Travel and Tourism Council’s projections and it’s going to be a record-breaking year. So $11.1 trillion for the global economy, one in every $10 worldwide and 3300 and 48 million jobs globally. That’s an increase of 13.6 million compared to the highest point in 2019. Well, hello, hello. Well, wow. OK. Millennials and Gen. X members are certainly that would be me. Yeah. Yeah. And me, I guess. Yeah, I’m in there. I think I’m Gen. X. Our part of this travelling up upswing despite rising home and R.E.M. prices. Now you OK? You said this. Canadians are willing to skip housing payments. That’s a concern. What else have you identified? So in the numbers from the World Travel and Tourism Council, this is what we pulled out. Like I said, one in 10 Canadians are actually skipping housing payments. And again, it shows how much people value it. 61% of Canadians are. They’re resolute. It’s non negotiable. They have planned travel in the next 12 months and 40% of that age group have at least one vacation on the year. In fact, 11% have more than three planned this year. So it just shows you how much people are willing to sacrifice in order to take those vacations. OK. Well, we also want to point out that younger Canadians do plan to budget more while continuing to travel. So take us to what they’re, what are they actually doing? Like we know they’re skipping rent. What else? Because budgeting is something that I did. People don’t think that, Julie Black budgets, but I do. I think everybody age budgets do it. Yeah, right. You know, the numbers speak for themselves. 82% of Canadians in that age group, but I think in general are budgeting and they’re doing it in a number of different ways. 39% are looking at deals and discounts. 36% are looking for budget friendly accommodation. That might be an accommodation that’s got a kitchenette so they don’t have to cook every single meal out. 33% are looking to explore local or domestic destinations, so they’re sticking a little closer to home. But no matter which age group, they’re looking to make the most of their travel dollars and make them stretch as far as they possibly can. So Claire, let me tell you what I did just a few days ago, OK? I was in a hotel rather than the resort, OK? I took rideshares. I was in Jamaica for Carnival and I ate local. I walked up the street. I turned my ring around, just you know what I’m saying, tuck the tuck the stone. And I realized that I was still able to intermittent fast. I ate when I was hungry rather than because there was a plethora of food available. I was able to manage my drinking like, it’s just it it it seems super simple. Like it seemed almost oversimplified. But like this is something that could afford us all to enjoy vacation, not cancel your vacation. Kind of find a way to. I talk about. I say like sometimes you have to represent. Now we could represent how we vacation. Yep. You know what I mean? It was great. It just takes a little bit of planning. But you absolutely can save. It might be a star. Ratings from 5 star to four-star. It might be going for seven nights instead of 10. But there are definitely ways that you can save on travel these days. Yeah, for sure. Just don’t miss have a friend ’cause I ain’t let you. Don’t come knock on my door. Don’t. You ain’t coming to live with me. Don’t come to. Uh uh. But you definitely can save other ways to make it happen. Claire, thank you so much for this update. Thanks so much. Thank you.