How do millionaires vacation?

It is a common misconception that wealthy people frequently engage in solo travel. Even though they may arrive via private jet, ultra-wealthy travelers often like to travel in large groups and participate in social activities throughout their vacations.



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Many wealthy people, before embarking on their holiday, will pay anywhere from $50,000 to $100,000 to have a luxury guide plan the ideal vacation for them. This may include everything from dining at Michelin-starred restaurants to participating in one-of-a-kind private cultural excursions.

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Even though they may arrive via private jet, ultra-wealthy travelers often like to travel in large groups and participate in social activities throughout their vacations.

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Affluent Americans eschew busy summer months and tend to travel in the spring or fall; treat themselves to an average of three vacations a year; and shell out an average of nearly $3,000 per trip.

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The report also shows that rich Americans choose to stay, at minimum, in a four-star hotel. A quarter of respondents said they're also fond of no-brainer, all-inclusive resorts where everything is planned out for them, and another 25 percent said they prefer five-star hotels.

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Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.

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