Millennials traveling and spending more than any other age group this summer

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Millennials on vacation
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Millennials are more likely to take a vacation this summer than they were last summer, and they are the most likely age demographic to spend the most on vacations, according to results from a Travelport survey released Thursday.

The 2018 Travelport U.S. Vacation Survey found that overall, 38% of respondents said they are more likely to take a vacation this summer than last. Over half of millennials (56%) said they were more likely to travel more this summer, whereas only 35% of Generation Xers and 22% of baby boomers said they were more likely to vacation in 2018.

The survey defined millennials as those ages 18-34; Generation X, 35-54; and baby boomers, ages 55 plus.

The survey also looked at the next 12 months, and again millennials lead the pack in their likelihood to travel more versus the previous 12 months. In total, 55% of millennial respondents plan to travel more in the next 12 months, compared to 31% of Generation X respondents and 20% of boomer respondents.

Millennials are also more likely to spend more on upcoming vacations. Thirty-four percent plan to spend over $5,000 on upcoming vacations, which Travelport said was the most of any of the age groups surveyed.

Baby boomers were the least likely to travel more over the next 12 months than the year prior, according to Travelport. Over 78% said they would travel the same amount or less in the coming 12 months.

"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 survey was conducted for Travelport by Toluna. It surveyed 1,515 U.S. residents ages 18 and over online from May 4-7.

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