The number of Americans expected to take a trip during this year’s Christmas holiday season is expected to increase, while the duration of trips is also expected to increase, according to Deloitte’s 2024 holiday travel survey findings.
The survey reveals that just under half of Americans plan to travel between Thanksgiving and mid-January, with 19% only visiting friends and family and 30% planning to stay in paid accommodation.
But a closer look at the findings reveals a surge of enthusiasm, with the average number of trips set to increase and more Americans planning a vacation of a week or more (33%, up from 25% in 2023).
These more ambitious plans are bolstered by an optimistic economic outlook, with nearly half of Americans (46%) claiming their finances have improved in the past year, up from 31% in 2023.
Among Americans with an increased budget, four in ten believe this is because travel has become more important to them. And as they’re about to spend more, travelers are increasingly turning to the travel experience. So spending on upgraded airline tickets and more luxurious accommodation is coming to the fore.
Higher-income Americans are expected to show a significant leap in travel spending, with their share of the travelling public having increased significantly and 35% planning to take three or more trips, up from 19% last year. International travel is also in high demand, as the percentage of higher-income Americans who will take a trip abroad in this time period has increased to 42%, up from 29% in 2023.
Young travelers are also showing great enthusiasm, with 14% of Americans planning trips being Gen Zers, up from 8% in 2023. And Millennials are planning the biggest increase in spending and the biggest increase in travel frequency, by a significant margin.
The frequency of travel is similar to that in 2023
Americans, feeling better about their finances and placing a high priority on travel, have big plans for the 2024 holiday season. About half plan to travel, the same as in 2023. But the average number of planned trips has increased from 1.88 to 2.14, and 64% of Americans will travel more than once, up from 57% in 2023.
Young and high-income Americans are the most important drivers of travel growth right now, with 14% of travelers being Gen Zers, up from 8% in 2023, and 45% having a family income of $100,000 or more, up from 38% in 2023.
High income, high enthusiasm
High-income Americans continue to expand their travel ambitions. In 2023, 59% of those with a family income of $100,000 or more planned to travel; this year, that number has increased to 66%.
And they are expected to make up more than half of paid travelers (52%), up from 43% in 2023.
These wealthier travellers are also increasing the average number of planned trips from 1.9 to 2.5 and spending per trip.
Increase in travel expenditure as travel becomes a priority
Spending trends are rising sharply for this year’s Christmas season. The proportion of respondents planning to significantly increase their travel budget compared to last year has ‘skyrocketed’ to 28%, up from 18% in 2023. The largest groups planning increases are Millennials (39%) and high-income earners (35%).
Travellers will allocate the additional amount they aim to spend on their travels on international holidays and upgraded airline tickets, in addition to upgraded and better-located accommodation.
Laptop luggers choose longer trips
More than four years after remote working became a widespread reality, the proportion of travellers carrying laptops – meaning they work while travelling – has risen sharply, to half from a third. While the high percentage of young and high-income Americans in terms of travel is contributing to this number, this behavior is increasing across all ages and income brackets.
Carrying laptops has big benefits for travel providers, with travellers in this category planning an average of 2.7 trips, over the Christmas holiday, compared to 2 for those not working. Their trips are also longer and their budgets are higher.
