Expensive vacations, cheap travel

Florida is one of the top vacation destinations in the world -- but the state's most affluent residents also are among the top spenders when it comes to their own vacations.

A new study from BMO Private Bank says Floridians with at least $1 million in investible assets plan to spend an average of $20,100 on vacation travel this year, compared with $13,200 for the rest of the country. Not all of that goes to air travel, given 75% choose to fly economy instead of business or first class, the survey reports.

When they get to their destination, these vacationers like their four-star hotels. Beyond that, more than four of 10, 44% will stay with family or friends, and 21% will take a short-term rental.

Staying stateside makes up a vast majority of the trips wealthy Floridians take, although Europe remains a favorite international destination. A portion of these travelers also head to the Caribbean, with Canada and Mexico a good distance behind.

Although Florida residents seek other places to relax, the state itself remains huge for tourism. More than 28.4 million people visited Florida in the first quarter, according to Visit Florida, the most in a single quarter in history. That's been a boom to state coffers, with taxable sales from tourism and recreation up 10% over last year.