Study: Affluent Travelers Will Spend $13,000 on Vacation This Year

Photo by Ciesielski

BMO Private Bank recently released a study showing how your affluent clients could be spending their vacation budget this year. 

Results show that wealthy Americans will go on an average of six vacations this year, spending around $13,249 per year on hotels and resorts, timeshares, airfare and food during their travels. 

Sixty-nine percent of those surveyed prefer to stay in four-star resorts, while 24 percent will choose all-inclusive resorts this year. The study also found that twenty percent of the Americans surveyed prefer five-star hotels and resorts. 

The study also highlights prime vacation times for well-off travelers. A large majority of Americans surveyed (72 percent) choose spring as their favorite time to travel, while 76 percent lean towards fall vacations. A whopping 89 percent of those surveyed travel within the United States, while nearly 50 percent travel to Europe. Canada, Asia, Mexico, Central and South America and Australia were also among top travel destinations for this year.