According to a new survey from Travelport, the leading Travel Commerce Platform, Millennials are more likely than older Americans to take a vacation this summer compared to the previous summer. Approximately 1,500 U.S. residents were surveyed and it revealed that Millennials – ages 18-34 years old – are most likely to spend more on their upcoming vacations than any other age groups, having 1 out of 3 Millennials willing to spend $5000 or more.
The survey reported that overall 38% of Americans are more likely to take a vacation this summer compared to the previous year. It concluded that about 56% of Millennials plan to travel more, in comparison to 35% of Gen X respondents (ages 35-54 years old) and 22% of Baby Boomers (ages 55+).
While 42% of all survey respondents plan to spend between $1,000 to $5,000 more while on vacation, males are significantly more likely to splurge than females, with 37% of males planning to spend more than $5,000 in the next 12 months, compared to only 15% of female respondents.
The survey also revealed that the most common method for booking air travel is directly through an airline’s website followed by a fare aggregator website, such as Priceline or Expedia. Surprisingly, for hotel bookings, Millennials are the most likely to use traditional offline travel agencies, compared to Gen X and Baby Boomers.
Millennials, who have grown up using digital technologies, are more likely to use a travel agency to book travel if a mobile app with customized notifications are available. While 44% of Millennials are willing to make the switch, only 23% of Gen X respondents and an even smaller proportion of Baby Boomers agree.
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.”
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