Travelers Plan to Spend More Money on Their Holiday Festivities This Year

After years of cutting back spending due to rising inflation, Americans are ready to open up their wallets for the holidays.

Deloitte’s 2024 Holiday Travel and Insights shows more than half of Americans (49%) plan to travel between now and the New Year. Their budgets have increased 4% from last year, with most planning to spend just under $3,300 on their trips.

“Enthusiasm for holiday travel keeps climbing as travelers look to make the most of the season by visiting friends and family,” says  Kate Ferrara, vice chair and U.S. transportation, hospitality and services sector leader, Deloitte. “An increase in trip frequency is pushing budgets up, giving travel providers the opportunity to capitalize on festive experiences. Travelers who invest in their holiday memories could create the groundwork for loyalty that stays long past the new year.”

Give the gift of guest experience

Deloitte’s research revealed a few trends you can use to create the best experience.

Travel is important to people this year. Deloitte has been asking consumers how they feel about travel and whether it matters to be home for the holidays or away. The number who say “travel has become more important to me” has doubled since 2023.

More travelers intend to do some work remotely during their vacation. Deloitte calls it “laptop lugging.” Roughly half of all employed travelers plan to work despite this being the “longest leisure trip of the 2024 holiday season.

Have plenty of available charging stations and ensure everyone on staff knows the Wi-Fi password because guests will ask.

And finally, younger and higher-income earners will travel more this season. Deloitte reports that “two-thirds of higher-income Americans plan to travel.” Baby Boomers will travel the most and spend the most. But Millennials also plan to spend the most, clocking their holiday budgets at roughly $4,000.

“Younger travelers are splurging on upgraded experiences; remote work continues to enable longer, more frequent trips; and everyone is looking for good food and plenty of options,” Ferrara says. “The travel industry has a prime opportunity to tap into these trends to help drive lasting loyalty this holiday season.”