Holiday travel declines as costs rise


Nov 22. Travel during the holidays isn’t what it once was. From Thanksgiving until the new year, due to inflation or recession and concerns about frequent travel delays, holiday travel demand has decreased. According to a new Deloitte Holiday Travel Study, only 31% of Americans intended to travel between Thanksgiving and mid-January. It’s a significant fall from the 42% surveyed in 2021.

“Financial considerations are the most significant drag on travel demand this year — 37% of non-travelers said it will be a reason not to travel. This emphasizes the continued impact of rising prices on travel demand,” said Mike Daher of Deloitte.

Of those vacationing over the holidays, according to the study, the main motivation is to see family and friends. Fifteen percent of Americans plan to hit the road for Thanksgiving weekend, while 14% will for Christmas and New Year’s. This year’s average holiday travel budget, both transportation and lodging, will total an estimated $1,287 per trip. One out of four of travelers is expected to spend more.

“Despite facing economic headwinds and highly anticipated travel delays and cancellations, many travelers are destined to make the most of the season,” said Daher. “While fewer will travel, those who will take to the roads and skies will likely spend more than last year.”

With fewer people traveling, those crossing states should expect smoother sailing and more pleasurable experiences. “As the travel industry prepares for a weaker holiday season, Daher added, providers who focus on the customer experience and the needs of those who do venture out will be set to shine throughout the holidays and into the new year.”

Source: Smart Brief


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