A survey conducted by Allianz Global Assistance reveals that U.S. travelers will spend more than $100 billion on summer travel—domestic, international, etc.—for the first time ever. This number represents a jump of 12.5% from the $89.9 billion spent a year ago. A little more context is available below:
The data also shows that the average allotment per trip has risen from a year ago. Last year, among U.S. travelers, the average spend was $1,798. This summer? $1,978, a jump of 10%. Generation Xers (ages 35-54) will spend the most ($2,628 per trip) of all measured age groups—and nearly double that of the average Vacationing Millennial (ages 18-34; $1,373 per trip). As to where they’ll be going, this post has more on that.
“Americans are feeling better about the economy and have loosened their purse strings for summer 2017,” said Daniel Durazo, director of communications at Allianz. “We’re happy to see that for first time in the eight year history of the Vacation Confidence Index, vacation spending will hit an impressive $100 billion. This new milestone is great news for the travel industry.”
Disclaimer: Johnny Jet works as an ambassador for Allianz Global Assistance (AGA Service Company) and receives financial compensation.
For more information about Allianz Global, visit AllianzTravelInsurance.com.