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Travel Spending Trends
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Americans prioritize travel over savings, with Gen X and millennial consumers driving the surge in travel expenses. Vacation expenses add to holiday financial stress, with over 26% indicating that vacation costs are a key contributor to their financial stress. Travel spending is expected to increase into the holidays with the use of buy now, pay later (BNPL) options and rewards, with millennials and Gen Z consumers leaning more on BNPL, while older generations still opt for credit cards.
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How might the surge in travel expenses impact the overall economy?
What are the potential risks and benefits associated with the increasing use of BNPL options for travel expenses?
What strategies can consumers adopt to manage holiday financial stress?
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