Wealthy millennials are set to drive the post-pandemic travel boom, survey finds

Wealthy millennials are set to drive the post-pandemic travel boom, survey finds

Wealthy millennials are busy booking tickets and packing their bags. High-income millennials are set to drive the post-pandemic travel boom, according to a that polled 1,000 Americans. It defined millennial high earners as those raking in at least $100,000 a year. This cohort is most likely to spend big on travel this year, comprising the highest rate of luxury bookings (trips costing at least $5,000) among all other generations surveyed. Driven by a desire for self-care and relaxation, 37% of high-earning millennials have already booked or are planning to book a luxury trip, and 32% are planning to increase travel spending in 2021, nearly double the average respondent. In fact, the survey found that high-income millennials are most likely to spend their pandemic savings on travel. It's an on-brand finding for this demographic of the generation, who prefer to and have saved up to last year. After a year in lockdown, they're looking to travel further and stay away longer, according to the survey. "Whether it's a domestic or international flight, young travelers are going the distance and heading to beaches, cities, and even on cruises," it reads. That high-earning millennials are willing to spend on this sector is an