The largest group of advisors we surveyed (46 percent) say the average cost for each client’s principal annual vacation is $10,000 to $25,000; however, another 42 percent put this number between $25,000 and $50,000. That means 88 percent says their client's primary yearly vacation spend is between $10,000 and $50,000. Not too bad. Six percent each said the average cost is $50,000 to $100,000 or $5,000 to $10,000. Wherever the advisors fell in this category, all of the numbers showed an increase in spending.
It’s also good to see that 2018 spending has continued in 2019—in fact, it seems to be increasing. Fifty-eight percent of advisors tell us that their clients are spending 10 to 20 percent more in 2019 versus 2018. Another 23 percent report a 5 to 10 percent increase; an impressive 18 percent tell us their clients are spending 30 or more percent so far in 2019.
As for the age of these clients, 60 percent are 51 to 75 years old, while the remainder are 31 to 50.