Gen Z more willing to splash out on 'dream honeymoon' than save for house deposit

As the battle to get on the property ladderbecomes more challenging for young Brits, a recent survey by UK package holiday company TUI revealed that over four in 10 Gen Zers would rather splash their hard earned cash on a post-wedding trip abroad, than save for a house deposit.

When asked to rank life goals in order of importance, a'dream honeymoon'topped the list for 42% of Gen Z. However, many still have dreams of owning their own place. Among the participants, 41% continue to stash away money for that crucial house deposit, while 33% focus on saving for general travel.

Interestingly, only 22% of young Brits prioritise saving for their big wedding day over travelling the world. Instead, many are willing to forego traditional wedding features in order to save money for the big trip.

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According to the research, 26% of Gen Z would trim down the guest list, while 28% would skip bridesmaids dresses and 19% would opt for a cheaper venue. Even flowers, cakes and stag or hen dos were among the traditions some couples were prepared to ditch for a dream honeymoon.

On average, respondents said they'd be happy to fork out around £8,000 for their post-wedding getaway. But when broken down by age, Gen Z are prepared to dig deeper, shelling out an average of £13,000.

Meanwhile, one in 10 young newlyweds, aged 18-24, would cough up more than £20,000 and 13% would even stretch to a staggering £50,000+.

While traditional honeymoon hotspots like the Caribbean, Maldives and Mauritius still top the list of destinations, a new trend of 'alternative moons' is gaining traction.

The research revealed that 19% of newlyweds are opting for action-packed holidays filled with safaris, diving and hiking.

Additionally, as winter draws nearer, 16% are contemplating a "chilly-moon" – think skiing in Lapland or capturing the ethereal Northern Lights in Iceland. Meanwhile, 13% fancy a "party-moon", dancing till dawn in Ibiza or Las Vegas.

Almost seven in ten couples jet off on their honeymoon within a fortnight of tying the knot, with most favouring a week-long getaway. However, 22% of Gen Z couples take a full two weeks, while a modest 17% opt for a brief "mini-moon" lasting just one to three nights.

The "multi-moon" trend is also making waves, with 14% choosing several smaller trips throughout the year over one big blowout holiday.

The findings come as TUI becomes the sponsor of Married at First Sight UK, and has commissioned research into all things weddings to find the top honeymoon trends amongst Brits.

Chris Logan, Commercial Director at TUI UK & Ireland, says: "Our research shows that young couples are prioritising travel over all else."

He adds: "For many, the honeymoon is no longer just a follow-up to the wedding – it's the main event.

"Whether it's an all-inclusive escape to Mauritius, a safari adventure in Kenya, or a romantic city break in Paris, today's newlyweds are looking for experiences that reflect who they are, give them space to spend quality time together, and create memories that will last a lifetime.

"We're also seeing more couples choosing to take several smaller trips across the year – a growing 'multi-moon' trend that speaks to a more flexible, experience-led approach to mark the start of married life."