Despite economic uncertainties, Americans, driven by Gen X and millennials, prioritize travel over savings, with a 22% increase in leisure travellers compared to 2022, reports PYMNT.
Gen X and millennials contribute significantly, constituting 31% and 28% of leisure travel expenditure, respectively. Baby boomers spend the most, averaging USD $2,387 per capita, while millennials spend 10% less but travel more frequently.
Generation Z has the lowest spending per capita. High earners engage in travel, but even paycheck-to-paycheck consumers allocate funds for it. Older adults, willing to adjust plans to fit budgets, often use credit cards, while younger generations prefer alternative credit options, with 30% utilizing buy now, pay later for summer travel.
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