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Travelers are booking more vacations in 2016, according to a report.

According to the report by holiday rental firm Meyer, vacation rentals for the year grew by 3% from 2016 to 2017.

The company says the increase was driven by higher spending on holiday parties and trips.

“While holiday rental rates are up across the board, it’s particularly noticeable for people who travel in a budget, especially during the holidays,” Meyer spokesperson Kate Mazzuca told the Irish Independent.

“More than 3.5 million people booked holidays in 2016 alone, with holiday rental income up 4% to €7.7 billion,” she added.

“The majority of this revenue comes from events and events-related companies, which accounted for 46% of the overall holiday rental revenue in 2016.”

The number of holiday rentals rose from 2.2 million in 2015 to 2.4 million in 2016.