The holidays are in full swing, and Americans are gearing up for a busy travel season. Many plan to hit the road — or the skies — more frequently and spend more on their trips than in previous years.
Deloitte’s 2024 Holiday Travel Survey reveals nearly half (49%) of Americans intend to travel this holiday season, a slight increase from 48% in 2023. This marks the fourth consecutive year holiday travel has held steady, signaling a positive outlook for the travel industry.
Rising Frequency and Budgets
A key trend this year? Increased holiday travel frequency and budgets. On average, travelers expect to take 2.14 trips this season, compared to 1.88 in 2023. This is the highest trip frequency since travel resumed following the pandemic.
Additionally, more Americans plan to spend more on their longest trip of the season; 28% of respondents report they’ll significantly increase their travel budget, up from 18% in 2023.
Americans will spend an average of $3,294 on their longest holiday trip this year, reflecting a growing desire to prioritize travel as a key part of their holiday celebrations.
Among those increasing their budgets, 40% cite travel’s growing importance in their lives as the primary reason for additional spending.
Key Travel Periods
Travel plans for the holidays center around two key periods: Thanksgiving and the December holidays.
Roughly 25% of Americans plan to travel during the Christmas or New Year period. While fewer people are planning trips in early January, those who are going tend to take longer vacations.
Among those traveling in early to mid-January, 36% plan to stay for a week or more — up significantly from just 16% during Thanksgiving.
While the trend toward higher trip frequency and spending is evident across most age groups, Millennials lead the charge. Not only do millennials plan to take the most trips (2.6), but they are also setting the highest budgets for their travels, averaging $3,927. In contrast, baby boomers are planning fewer trips and spending less overall.
Higher-income Americans are also fueling the travel surge this year. Of those earning $100,000 or more annually, 66% plan to travel in 2024, up from 59% last year. These high earners will likely account for more than half (52%) of all paid lodging travelers this season.
Affordability Challenges Persist
While travel is booming, affordability remains a challenge for many.
Nearly 40% of Americans say they cannot afford to travel this season, a figure almost identical to last year. Another 31% cite the high costs of travel as a barrier.
Despite these obstacles, a growing number of people report improved financial conditions; 46% of respondents say they are doing better financially, up from 31% in 2023.
Personalization and Luxury Drive Loyalty
Travelers also seek more personalized, upgraded experiences, opening the door for providers to build customer loyalty.
Nearly 1 in 5 holiday travelers plan to fly this season, while 30% intend to stay in paid lodging, such as hotels or private rentals. Among those planning to increase their budgets, nearly half (49%) are opting for longer trips, 44% for better lodging locations, and 29% for upgraded airfare.
In addition to flying and staying in higher-end accommodations, more travelers are road-tripping; 65% of respondents plan to drive to their holiday destinations.
Social media and new technologies also play a significant role in travel planning. According to the survey, 39% of travelers use social media apps to help plan their trips — up from 27% last year.
Additionally, more travelers are turning to short-form video content and generative AI tools to inspire and inform their travel decisions.
Remote Work Fuels Longer, More Frequent Travel
Remote work continues to be a major factor in increasing travel frequency, with the “laptop lugging” phenomenon significantly rising this holiday season. Nearly half (49%) of travelers plan to work — at least partially — during their longest holiday trip, up from 34% last year.
This shift is particularly evident among younger generations and higher-income travelers. Nearly 60% of Gen Z and 54% of Millennials intend to work remotely during their holiday travels, as do 52% of those earning $100,000 or more.
For these “laptop luggers,” the holiday season will be marked by both more trips (averaging 2.7 trips for remote workers versus just two for non-luggers) and longer stays.
Laptop luggers are also more likely to travel internationally, with 30% planning trips abroad, compared to just 18% of those planning to disconnect from work entirely.
The Road Ahead
The 2024 holiday season looks to be another busy period for the travel industry thanks to increased travel frequency, higher budgets, and a desire for elevated and personalized experiences.
As Kate Ferrara, Vice Chair and U.S. Transportation, Hospitality, and Services Sector Leader at Deloitte, notes, “Enthusiasm for holiday travel keeps climbing as travelers look to make the most of the season by visiting friends and family. An increase in trip frequency is pushing budgets up, giving travel providers the opportunity to capitalize on festive experiences.”
With consumers prioritizing travel more than ever before, the holiday season presents a prime opportunity for the travel industry to foster loyalty and meet the growing demand for meaningful travel experiences.
