Vacation FOMO From Social Media Content Is Causing Travelers To Overspend

Social media’s impacts on our modern society are immeasurable, and its influence over people’s travel intention is no less powerful than anywhere else. While gleaning vacation inspiration from social media photos, videos and ads doesn’t necessarily have a negative effect, being bombarded by a constant stream enviable destinations and experiences beyond your own reach isn’t great for the psyche.   

A new survey by Forbes Advisor investigated the ways in which travel-related content on social media channels has impacted U.S. consumer behavior, in the process revealing how continually seeing depictions of other people’s privileged lifestyles pressures Americans into pursuing picture-perfect trips of their own, sometimes at costs they can’t afford.

Social Media’s Influence

• Almost half (48 percent) of the survey’s participants reported having traveled to a particular destination or landmark, specifically because they saw it portrayed on social media.
• The youngest generations of travelers are most susceptible to social media’s sway. An astonishing 82 percent of Gen Z respondents indicated that they had traveled somewhere after seeing it on social media, while 57 percent of Millennials said the same.
• Income also factors into the equation across all age groups. Respondent with higher household incomes were shown to be more likely to plan trips to a particular place after seeing it posted online, and almost two-thirds of those earning $120,001 or more per year booked a destination after seeing in on social media.

Peer Pressure

• Half of those surveyed said that they “often” or “always” feel pressured to emulate a certain lifestyle or reproduce various travel experiences they’ve seen on social media. Almost three-quarters said that they at least “sometimes” feel compelled to do so.
• Again, the impact is greater on younger generations, with 95 percent of Gen Z pollees indicating that they’ve felt this pressure at least sometimes. This could be attributed to how frequently they’re checking social media feeds, as respondents ages 18 to 26 overwhelmingly reported viewing travel content on social platforms at least once a day.

Social media concept. (Photo via Urupong / iStock / Getty Images Plus)

The FOMO Effect

• At least some of this pressure is self-inflicted, with many travelers suffering from the widespread affliction now known as FOMO (“fear of missing out). In fact, 44 percent of those surveyed admitted to bumping up their travel budgets after seeing vacation posts from a peer or social media influencer. Some are spending more than they previously felt comfortable with.
• Conversely, another 44 percent of respondent specifically emphasized that they have not fattened up their travel budgets because of what they see on socials.
• In terms of age, Gen Z (79 percent) and Millennial (53 percent) survey-takers turned out to be the most likely to increase trip spending due to social media activity.
• Those having higher household income also proved more liable to expand their vacation budgets based on travel-related social media posts, with 60 percent of those making between $120,001 and $150,000 annually saying they’ve done so.
• As a general rule, lower-income households maintained their previous budgets, with 72 percent of respondents who make under $30,000 a year saying they’ve not increased travel spending.

Overspending Is Trending

• 42 percent of study participants reported going into credit card debt or spending more than they originally intended on a vacation after seeing a similar trip on social media.
• Once again, Gen Z leads in terms of spending too much on travel, with 78 percent taking on credit card debt or overshooting their original budget, while half of Millennials admitted to the same.
• Among higher-income individuals, over half of those earning at least $120,000 a year said they’ve spent more than they initially budgeted on a vacation, while 47 percent of those with incomes between $90,000 and $120,000 also accrued debt or overspent.
• The amounts spent in excess of their budgets are also significant. Among those who overspent or went into debt to recreate travel experiences they saw on social media, 23 percent spent an $1,501 to $2,000, while less than six percent spent an additional amount of under $500.

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