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The projected total spend will crack the USD100 billion mark for the second time in the survey’s history, amounting to USD100,400,000,000 The projected total spend will crack the USD100 billion mark for the second time in the survey’s history, amounting to USD100,400,000,000

Generation X More Likely to Overspend on Holiday

Allianz Global Assistance’s Annual Vacation Confidence Index reveals that over-spending Americans go over budget by USD534, and vacation spending has increased over USD20 billion since 2010.

Breaking down by age group, 92 percent of Millennials (ages 18-34) and 91 percent of Baby Boomers (ages over 55) did not overspend, while 87 percent of Gen X’ers (ages 35-54) were able to stay within budget.

Gen X’ers also tend to overspend more, averaging 32 percent over budget, which amounts to USD836 based on their anticipated spend, while Millennials overspent by 26 percent (USD362) and Baby Boomers overspent by 20 percent (USD369).

This year’s survey reveals that the average anticipated spend on vacations this summer, USD1,936, has decreased slightly from 2017, when it was USD1,978.