VIDEO AllianzTravelUS How Much is Your Vacation Budget? Survey Finds Gen X'ers More Likely to Overspend TV commercial 2018 • With our tenth annual Vacation Confidence Index, Allianz Global Assistance finds 10 percent of Americans admit to going over budget while on vacation last year, and those who did, on average, overspent by 27 percent ($534). Breaking down by age group, 92 percent of Millennials (ages 18-34) and 91 percent of Baby Boomers (ages 55+) did not overspend, while 87 percent of Gen X’ers (ages 35-54) were able to stay within budget. Gen X’ers also tend to overspend more, averaging 32 percent over budget, which amounts to $836 based on their anticipated spend, while Millennials overspent by 26 percent ($362) and Baby Boomers overspent by 20 percent ($369). The 2018 survey reveals that the average anticipated spend on vacations this summer, $1,936, has decreased slightly from last year, when it was $1,978. Still, the projected total spend will crack the $100 billion mark for the second time in the survey’s history, amounting to $100,400,000,000. Allianz has analyzed American travelers’ summer vacation spending habits, revealing that Americans are forecasted to spend over 20 percent (23.5 percent) more than they did in 2010, when the average anticipated spend was $1,653. The survey also shows that 46 percent of Americans typically take an annual summer vacation, a three percent decrease from 2017, while 53 percent do not. However, 18 percent of Americans have taken a vacation in the past three months, up four percent in 2017, which may explain both the decrease in those taking a summer vacation and the decrease in spend. - advertisement spot 2018
Notes for 1665 How Much is Your Vacation Budget? Survey Finds Gen X'ers More Likely to Overspend
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