Survey: More than 1 in 3 American travelers plan to go into debt for their summer vacations this year
Published in Home and Consumer News
Sixty percent of Gen Zers (ages 18-27) and 61% of millennials (ages 28-43) are planning summer vacations, versus 50% of Gen Xers (ages 44-59) and 44% of boomers (ages 60-78).
Young people are also more willing to take on debt to pay for their 2024 summer vacation:
—Gen Z: 42%
—Millennials: 47%
—Gen X: 31%
—Boomers: 22%
Higher earners and city dwellers are most likely to jet set this summer
When you scroll on social media this summer, you might notice two types of friends filling your feed with travel photos — those who earn more money and those who live in cities.
Nearly 3 in 4 (74%) of survey respondents with annual household incomes of $100,000 or more are planning a summer vacation. That’s considerably more than the 68% earning between $80,000 and $99,999, 61% earning between $50,000 and $79,999 and just 39% earning under $50,000 who are planning a summer vacation.
As for where these summer travelers live:
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