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 spendÊ$5000Êor 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 thanÊ$5000Êon upcoming vacations, the most of any other age group.
Other key findings of the survey include:
- Vacation spending and gender:ÊWhile the biggest group (42 percent) of all survey respondents plan to spend betweenÊ$1,001ÊtoÊ$5,000Êmore while on vacation in the next 12 months compared to the past 12 months, males are significantly more likely to splurge than females, with 37 percent of males planning to spend more thanÊ$5,000in the next 12 months, compared to only 15 percent of female respondents.
- More education + more income = more likely to take vacations this year:ÊAmericans with postgraduate degrees (64 percent) and with household incomes aboveÊ$200,000Ê(71 percent) are the most likely demographic segment to take a vacation this summer than last summer. And the same individuals also are most likely to spend more thanÊ$5000Êon vacations in the next 12 months compared to the previous 12 months (44 percent and 68 percent respectively).
- Millennials on the road:ÊNearly half (49 percent) of respondents have travelled for business/leisure within the last year, with Millennials having travelled the most in the last 12 months (51 percent) compared to Gen X and Baby Boomers (each at 48 percent).
- Baby Boomers least likely to double down on travel:ÊBaby Boomers are least likely to increase their plans to travel in the next year compared to last year, likely an indication this demographic has established a consistent approach to planning and going on vacation. More than 78 percent said they would travel either the same amount or less in the next 12 months.
- Direct or aggregate bookings dominate:ÊThe most common method for booking air travel is directly through an airline’s website (30 percent) followed by a fare aggregator website (21 percent), such as Priceline or Expedia. Surprisingly, for hotel bookings, Millennials are the most likely to use traditional offline travel agencies (23 percent), compared to Gen X and Baby Boomers (7 percent and 6 percent respectively).
- Convenient and customised technology is key for younger travellers:ÊMillennials, who have grown up using digital technologies, are more likely to use a travel agency to book travel if a mobile app with customised notifications is available. While 44 percent of Millennials are willing to make the switch, only 23 percent of Gen X respondents and an even smaller proportion (5 percent) of Baby Boomers agree.
Erika Moore, Travelport’s vice president and general manager forÊthe 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 personalised, seamless and stress-free experience at each step of the vacation journey.”
ClickÊhereÊto view the full 2018 Travelport U.S. Vacation Survey.
