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Pay day to vacay: Affluent Arizonans spend $13K on vacation annually

PHOENIX — Affluent Arizonans plan to spend more than $13,000 annually on vacations, a study said.

The study from BMO Harris Bank said Arizonans with more than $1 million in assets will spend an average of $13,245 on leisure travel this year. About 78 percent will spend that over three or more trips.

Despite being close to the annual national average of $13,249, wealthy Arizonans plan to spend about $3,526 per trip, well above the average of $2,902.

To get there, about 83 percent will fly economy. When they arrive at their destination, a vast majority — 83 percent — would opt for a four-star hotel while the remainder would stay in a timeshare, all-inclusive resort or with friends.

Most will opt to spend their vacation in the United States, but other popular spots include Europe, Canada and the Caribbean.

While it seems like a no-brainer to get away from Arizona’s sweltering summer, only 63 percent said they prefer to travel during the state’s hottest months. Instead, they prefer to travel in the spring or fall months.