Travel the World Or Own A Home?
Apartment prices have sky rocketed in the past decade in Egypt. A 230 meter squared apartment in a moderate location in Alexandria, can be as high as 3 million Egyptian pounds these days. Millennials (ages 21-35 as of 2016) are starting to wonder… is it worth it?
Owning a home does have it perks. It gives you state of security, unlike renting a place, which means you can be told to move out any given month. It’s a place you can call your own and design in any way you choose. It’s a place you can start a family in, get married, and have children.
On the other hand, there’s a certain allure to traveling. Instead of settling down, you can discover the world, experience new cultures, meet new people, and create your own adventures.
The dream of owning your own apartment or house is one our parents might have had, but millenials are starting to think otherwise. A new study says millennials are more interested in spending money on experiences than on ownership. Meaning, they’d rather travel than own a home.
We, millenials, don’t want any old trip, either. The way we travel has changed, too, with 75% of millennials in the study reporting they are not interested in pre-packaged tours or trips by a tour company. We want to create our own itineraries, which is possible with the advancements of smart phones and global connectivity. We don’t want to go from one tourist attraction to another. Eating well is a priority, with 75% of millennials in the study preferring to dine at local restaurants rather than some international chain restaurant, and nearly 60% are looking for adventure, rather than relaxation. No, we don’t want to just relax by the pool. We want to experience the destination like a local! For that, millennials are nicknamed “Generation Experience.”
They say, “Travel is the only thing you buy that makes you richer.” But what do you think? Would you rather spend your money on traveling around the world or to invest it in a home and settle down?
By: Hana Kotb