Seventy-four percent of Americans prioritize experiences over material goods, which bodes well for the travel industry, according to a study by Expedia and the Center for Generational Kinetics.

The study, "Generations on the Move," was administered to a total of 1,254 U.S. adults ages 18-65. It breaks down the generations by birth years as follows: baby boomers, 1946-1964; Generation X, 1965-1976; millennials, 1977-1995; and Generation Z, 1996 and beyond.

Fifty-seven percent of Americans are saving money for travel, a percentage that jumps to 65% with millennials.

Among the survey's Generation Z respondents, 71% said they would get a part-time job to save money for a trip. Forty-nine percent of both millennials and Generation Z would sell clothes or furniture for travel money.

While the study found all generations like hotel reviews when they are shopping and booking, preferred trip type, activities and the accommodations vary by generations.

Generation Z likes "adventure experiences such as exploring and trying new things more than anyone else," according to the study. They also want connectivity, with one-third of Generation Z respondents saying Wi-Fi is an "absolute necessity." They also prefer long weekends, a trait they share with millennials and Generation X.

Boomers will travel for a week or longer. They prefer traditional travel experiences like sightseeing. Millennials and Generation X prefer more relaxing vacations, like trips to the beach or a spa.

Income brackets also affect what travel experiences an individual prefers.

"Lower-income travelers prioritize spending time with loved ones the most, while middle-income travelers place a priority on sightseeing or tourism," the study found. "Higher-income travelers just want to relax."

Unsurprisingly, social media is playing an increased role in younger generations' travel decisions. According to the study, both Generation Z and millennials are heavily influenced by social media. Twenty-seven percent of millennials posted a potential trip on a social media platform to get opinions before booking, and 36% of Generation Z travelers have picked a destination based on postings about it on social media.

As far as travel companions, 54% of the Generation Z respondents said they usually or always travel with their family, and 55% said their parents pay for their travel when traveling together. Millennials, too, benefit from their parents' likely deeper pockets, with 24% saying their parents paid for their joint travel.

The study also looked at booking convenience, and 80% of respondents said being able to book all components of their travel on one website is helpful. That number rises with the youngest generation -- 87% of Generation Z said it is helpful.

Half of Generation Z and 48% of millennials prefer to use OTAs. Of all respondents, 55% said they would consider booking an entire trip on an OTA without visiting any other websites, and 15% said they would definitely book an entire trip on an OTA without visiting other websites.

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