A study by Visa has found that US residents are ready to splash out two fifths more money on their next break compared to people in other countries that only plan to increase their spend by 4.6 per cent.
The survey also found that over 50 per cent of travellers book their trips using online travel sites and 38 per cent of people opt for destinations rich that are in cultural experiences.
Nick Talwar, head of North American Credit at Visa Inc., said: "Americans have a zest for travel and exploration and these survey results hint at a growing appetite to increase travel budgets. With increased spending budgets and the desire to manage expenses, traveling with an electronic form of payment is becoming just as important as a passport."
Meanwhile, a previous study revealed travellers are taking shorter but more frequent holidays.
Visa found that, on average, people are going on shorter breaks - down to eight nights from 10 back in 2013. However, there has been an increase in the average number of trips taken in the same time period, up from 2.5 trips to 2.7 trips. It is American residents who took, on average, the most trips in 2017 - 3.2 trips, way above the world average.
Lynne Biggar, Chief Marketing and Communications Officer at Visa, added: "We are excited to see the desire for global travel grow as technology becomes integral in every stage of the travelers' journey. Using your Visa card abroad means a safe, secure, seamless and convenient experience, without the worry of carrying cash. As more people travel internationally in 2018, we look forward to helping travelers make the most of their trips."