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United States : Millennials, ready to spend more on luxury vacations in 2021 ?

United States : Millennials, ready to spend more on luxury vacations in 2021 ?

According to a Tripadvisor study, 26-35 year olds residing in the U.S. are gearing up for the city break excitement this summer season.

 

The report, called Future of Travel, commissioned by the leading travel site Tripadvisor, gives an overview of the travel desires of this age group, taking into account different socio-professional levels. Affluent millennials come out on top as they are the demographic most likely to spend more on travel, with the majority having already booked luxury destinations.

 

This can be explained by a strong desire to take care of themselves and relax. But also a return to confidence. Of the sample surveyed in the U.S. who have not traveled at all in 2020, nearly two-thirds (61%) say they are comfortable doing so in 2021. Those who have already traveled in 2020 are more likely to have already booked a trip for 2021 41% have already booked a trip for 2021, compared to 13% of those who have not traveled at all in 2020.

 

The big winner this summer in the U.S. would be domestic travel with three out of five respondents (58%) considering a domestic flight and one in four (25%) considering an international flight.

 

In this context, the city break is on the rise with city dwellers particularly eager to visit other urban centers, all income brackets included, the desire for relaxation and luxury is the motivation for these trips. And so it is that 32% of high-income millennials plan to increase their travel spending in 2021 – nearly double the average respondent. High-income millennials plan to spend more than $5,000 on an upcoming luxury trip.

 

 

See Also

READ ALSO > FORBES RANKINGS 2021: LONDON LEADS THE WAY ON TRAVEL DESTINATIONS WITH 19 FIVE-STAR HOTELS

 

 

Featured photo : © Creatives Commons

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