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U.S. Millennials Most Likely to Take & Spend More on Vacations This Year, Next

Unnamed airport terminal - Photo by Anete Lūsiņa on Unsplash

U.S. Millennials Most Likely to Take & Spend More on Vacations This Year, Next

Millennials are more likely than older Americans to take a vacation this summer than last summer, based on their household finances, according to a new survey from Travelport (NYSE: TVPT). The 2018 Travelport U.S. Vacation Survey of approximately 1500 U.S. residents reveals Millennials (ages 18-34 years old) are most likely to spend more on their upcoming vacations than other age groups, with one out of three Millennials willing to spend $5000 or more on their vacations.

Overall, over one-third of Americans (38 percent) are more likely to take a vacation this summer compared to last summer. Millennials’ optimism about taking vacations, however, is not fully shared by Americans aged 35 and up: More than half of Millennials (56 percent) plan to travel more this summer compared to summer 2017, in contrast to 35% of Gen X respondents (ages 35-54 years old) and 22 percent of Baby Boomers (ages 55+).

Millennials are as bullish about taking vacations in the year ahead as they are on their 2018 summer vacations. They plan to vacation more in the next 12 months compared to the 12 months prior, with 55 percent of Millennials planning to increase their vacation plans, in contrast to the more cautious future vacation planning of Gen X (31 percent) and Baby Boomers (20 percent). And 34% of Millennials plant to spend more than $5000 on upcoming vacations, the most of any other age group.

Other key findings in the survey include:

Erika Moore, Travelport’s vice president and general manager for the United States, said, “Travelport’s survey is good news for the U.S. travel industry, as Americans are cautiously optimistic about taking vacations this summer and next year. The key is offering consumers, regardless of their budgets, the best air, hotel and other vacation deals, which requires travel providers and travel sellers to deliver a personalized, seamless and stress-free experience at each step of the vacation journey.”

Note to editors
Click here to view the full 2018 Travelport U.S. Vacation Survey.

About the survey/methodology
The research findings are based on a study conducted by Toluna, a certified member of the Market Research Foundation and a founding member of the Insights on Demand Consortium, using TolunaAnalytics, a web-based real-time data visualization and analytics tool. 1,515 U.S. residents ages 18 years and over, representing all 50 states, participated in the survey that occurred May 4-7, 2018.

Posted by on May 17, 2018.

Categories: Travel Industry News

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