When it comes to packing bags for the summer months, Millennials are heading for the exits.
According to a new survey from Travelport, more than half of Millennials plan to travel during June, July, and August-slightly more than their generational counterparts. Both Gen-Xers and Boomers will also be hitting the road but just 48 percent say they are taking a vacation during the same time period.
"Travelport's survey is good news for the U.S. travel industry, as Americans are cautiously optimistic about taking vacations this summer and next year," said Erika Moore, Travelport's vice president and general manager for the U.S.
"The key is offering consumers, regardless of their budgets, the best air, hotel and other vacation deals, which requires travel providers and travel sellers to deliver a personalized, seamless and stress-free experience at each step of the vacation journey," Moore added.
Optimism for taking a vacation is also high, with Millennials the most optimistic about taking a vacation. Overall, more than one-third of Americans (38 percent) are more likely to take a vacation this summer compared to last summer.
More than half of Millennials (56 percent) plan to travel more this summer compared to summer 2017, in contrast to 35 percent of Gen-X respondents (ages 35-54 years old) and 22 percent of Baby Boomers (ages 55-plus).
Millennials are also increasing travel throughout the year. They plan to vacation more in the next 12 months compared to the 12 months prior, with 55 percent of Millennials planning to increase their vacation plans.
Other generations are taking a more cautious approach to travel planning. Just 31 percent of Gen-Xers are planning to increase the number of times they travel throughout the year. Just 22 percent of Baby Boomers plan to travel more frequently in the coming months.
With more travel comes increased expenditures, which is why 34 percent of Millennials will spend $5,000 on upcoming vacations.
Travelport notes that destinations can capitalize on the trend, with Moore telling Mexican media outlet Pasillo Turistico that Mexico shouldn't miss out on the opportunity.
"Mexico has to take advantage of this disposition they have to travel, to be able to capture this market and visit the wide range of destinations and attractions that the country," she said.
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