Economy Would Get A $236B Boost If Americans Used All Their Time Off

The economy could experience a $236 billion impact if more Americans simply used all of their vacation time.

More than half of Americans fail to do so with 662 million vacation days unusued each year, four million more than in 2015, according to AAA and Project: Time Off, an initiative of the U.S. Travel Association.

"This takes a toll on families, worker productivity, stress levels and overall well-being. Research from Project: Time Off shows that those who plan and take vacations are happier than non-planners," according to AAA.

In Ohio, 49 percent of employees have nearly 22 million vacation days unused. But if Americans use their vacation time, it would generate $128 billion in direct spending.

Americans took 16.8 days of vacation a year in 2017 compared with 16.2 days in 2016, ccording to data provided by Project: Time Off. But that's still down compared to 2000.

While unused days are up, forfeited days - vacation days that cannot be rolled over, banked, or paid out - are down to 206 million, an 8 percent decrease from 2015.

But American workers gave up $66.4 billion in 2016 benefits alone when they forefeit vacation days, according to Project: Time Off.

Taking time off can reduce stress and improve employee's productivity, according to experts. Since The Great Recession, Americans who lost their full-time jobs have turned to the gig economy, which doesn't typically allow for paid vacation days, Neil Howe writes in Forbes magazine.

The economy overall has shifted to a "new environment" where employees feel less like they're being paid for their time and more so for completing a set of fixed-time as if they were on contract, he said.

Therefore, tasks set aside one day have to be completed later.

Additionally, 66 percent of employees feel their company culture is ambivalent, discouraging, or sends mixed messages about time off, virtually unchanged since 2014, according to Project: Time Off.

But a majority of managers agree that vacation improves health and well-being and boosts morale, both at 82 percent, and alleviates burnout at 81 percent.

AAA recommends travelers to create a tentative budget and schedule, research the pros and cons of traveling to a destination during a preferred timeframe, using a travel agent, plan ahead and consider purchasing travel insurance.