America’s Vacation Behavior Improves

Project: Time Off recently released their annual report, State of American Vacation 2018. Key findings include:

By the Numbers. On average, Americans used 17.2 vacation days in 2017, marking the highest level for American vacation usage since 2010 (17.5 days) and a full-day increase since bottoming out at 16.0 days in 2014. While half (52%) of employees reported having unused vacation days at the end of 2017, that ratio has improved from 54% in 2016 and 55% in 2015.

Economic Impact. The increase in vacation usage from 16.8 in 2016 to 17.2 days in 2017 delivered a $30.7 billion impact to the U.S. economy. It also produced an estimated 217,200 direct and indirect jobs and generated $8.9 billion in additional income for Americans. While the numbers are moving in a positive direction, the 52% that left vacation days on the table accumulated 705 million unused days last year—representing a $255 billion opportunity for the American economy.

Generational Cohort Findings. Millennials use a greater proportion of their days for travel than Generation X or Boomers, but take fewer days than older generations as a result of earning fewer days. The average Millennial takes 14.5 days, 7.1 of which are used to travel. Generation X uses 17.9 days and dedicates 8.2 of those for travel. Boomers take the most days off at 19.8, and spend 9.0 days on travel vacations.

Check out the full report here for more detailed findings. (Project: Time Off, 5.8.18)