NEW YORK, November 1, 2023 /PRNewswire/ —
Take key
- The journey continues to grow: About half (48%) of Americans intend to travel this holiday season. The intention to travel between Thanksgiving and mid-January is across all age and income groups with an average holiday budget of $2,725.
- More than half (56%) of vacation travelers plan to stay in hotelsby 35% in 2022.
- Boomers are traveling again with a bang that form almost a third of those who plan to take to the streets and the sky; they made up just one fifth of the public traveling on holiday in 2022.
- Citing the improved financial situation, younger generations plan to increase travel budgets this holiday season 1 in 4 in Gen Z saying they will significantly increase their budgets, the highest share of any generation. Twenty-two percent of millennials also plan to significantly increase their vacation travel budget this season.
- Laptop bags continue to be a workshop on leisure travel; for this holiday season, they Plan to travel more often and take longer trips.
Why this matters
Americans are ready to travel for the holidays. For the third consecutive year, Deloitte explores travel intent ahead of the pivotal holiday season and the overall impact on the travel industry. According to this year’s report, “2023 Deloitte Holiday Travel Survey“Health concerns and travel delays are diminishing as consumers across income groups map out trips to make this holiday season memorable.
The holiday trip resumes
Nearly half (48%) of Americans intend to travel between Thanksgiving and mid-January, with a larger portion taking trips beyond just visiting family and friends. The desire to keep traditions alive can convince travelers to pack their bags, although many are evaluating how often, and for how long, they leave this season.
- While more Americans intend to travel, they are taking fewer trips (1.88 in 2023 vs. 2.01 in 2022) that are shorter in duration (75% say their longest trip will last a week or less vs. 69% in 2022), but slowly. to spend more this year ($2,725 in 2023). With fewer trips planned, trips are concentrated around two major holidays: Thanksgiving through the end of November (33%) and Christmas through New Year’s (27%). Trips get longer during the holiday season.
- Vacation travelers want to connect with loved ones: 58% say time with friends and family is the main motivator for their longer trip this season. Another 51% seek rest and relaxation. While both are often great travel motivators, travelers place greater emphasis on these factors during the holidays than in the summer.
- Boomers are traveling again: they will make up just one-fifth (21%) of the holiday-traveling public in 2022; this year the group will make up 29% of travelers. Boomers also tend to spend more per trip compared to Gen Z and Millennials.
- Younger generations plan to take more trips and spend more throughout the season: Gen Z travelers plan an average of 2.1 trips during the holidays, a close second to millennials at 2.2. A traveler in 4 Gen Z says he will significantly increase his budget year over year, the highest share of any generation.
- About 1 in 5 travelers (18%) say they are spending much less on vacation travel than last year. The same share of travelers (18%) plans to spend significantly more this season. Financial problems are the main reason why travelers will spend less, while higher prices are the biggest factor that makes them think about spending more.
- For those who don’t travel, finances are the number one deterrent (38%). Health and disruption issues are lower on the list, mentioned by only 11% of non-travelers each (compared to 18% in 2022) and indicating that concerns from previous years may be leveled.
Travelers are packing some pandemic-era preferences
Some preferences that saw growth during the pandemic are declining as travelers plan to return to hotels and international destinations in greater numbers. As Americans return to the new normal of travel, the influence of younger generations is growing, elevating the role of social media in travel planning.
- Hotels are back in a big way, as 56% of holiday travelers plan to book a stay at some point this holiday season, up from 35% in 2022. The preference for private rentals It remains at 15%.
- More than a third (37%) of travelers will take a flight at least once during the holiday season. Meanwhile, about half (53%) of American travelers are planning road trips, up from nearly two-thirds (64%) in 2021.
- While 26% of air travelers will fly to international destinations, overseas trips make up a larger portion of travel in early January compared to the rest of the season. International travelers are also more likely to stay in paid accommodation (73% in hotels and 28% in private rentals for at least part of their longer holiday trip), as 1 in 5 say they trips that have been missed due to the pandemic. International travelers are more likely to rely on social media to select their travel destinations (52% vs. 39% domestic travelers) as well as social content such as apps, videos, travel websites and Generative AI.
- Participation in travel activities has increased in most categories year over year, including visiting a major attraction (43% in 2023 vs. 36% in 2022) and attending a ticketed event such as and a concert or festival (30% in 2023 vs. 23% in 2022).
- Gen Z and millennials are leading efforts to travel more sustainably, particularly when it comes to prioritizing hotels with higher sustainability ratings (23% and 25%, respectively), which is the most popular travel choice for the environment.
Key quote
“The travel industry has reached its cruising altitude this holiday season. Spending time with family and friends is even more important during the holidays, and Americans are embracing this tradition as they pack many of the concerns that impacted last year’s plans. providing memorable experiences during the holidays will have the opportunity to further engage travelers looking to plan additional trips in the new year.”
— Mike Dahervice president, Deloitte LLP and US transportation, hospitality and non-attested executive services
For remote workers, it’s a season to travel
Many remote workers continue to take advantage of flexible office arrangements to extend and enhance their vacation travel experiences. One in 3 travelers (34%) say they are likely to work on their longest trip over the holiday season. These “laptop luggers” skew the young and rich compared to travelers in general.
- Laptop lugging rates among higher-income travelers have increased by 30% year-on-year, while lower-income travelers are half as likely to bring work with them as they were last year .
- Laptop luggers continue to take more, longer trips throughout the season: They plan 2.3 trips on average, with their longest trip extended by four days due to remote work. On average, travelers add five days of travel over the entire holiday season if they can work remotely.
- While working on their vacation trip, laptop luggers are most concerned about separating work from leisure (53%) and maintaining productivity (41%).
- Travelers planning to work during their longer vacation trip also part with a higher budget for both the overall season and their longer trip, and plan to splurge on upgraded airfare and lodging.
Key quote
“Showing great enthusiasm for travel, Americans take advantage of all the joy that the season has to offer. Boomers and Gen Z are set to have a particularly strong impact on the industry. In general, more travelers plan to stay in hotels during the holidays, instead of just visiting family and friends. In addition, laptop luggers continue to take advantage of flexible work arrangements to make the most of the holiday season, creating new and memorable opportunities for travelers and suppliers”.
— Eileen Crowleyvice president, transportation, hospitality and services of the United States certified leader, Deloitte & Touche LLP
by Deloitte2023 holiday travel survey” is based on a survey of 5,281 Americans escaped between September 12 – 25. Of these, 2,531 respondents who plan to travel between Thanksgiving and mid-January qualify as holiday travelers.
Connect with us on Twitter at @DeloitteCB or LinkedIn @MikeDaher and @EileenCrowley.
About Deloitte
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SOURCE Deloitte
