As the holiday season approaches, Americans’ outlook for travel mirrors many aspects of 2023. However, a closer inspection reveals a new trend: Americans are planning more trips, spending more money and increasingly prioritizing travel experiences. According to Deloitte’s 2024 Holiday Travel Survey, just under half of Americans are expected to travel between Thanksgiving and mid-January, with many planning to stay longer, spend on upgraded accommodations and explore new destinations.
The 2024 holiday season is poised to see a travel boom, driven by longer trips, higher spending and a broader base of travelers, including younger and wealthier groups.
While travel plans remain mostly the same, in terms of overall participation, the study noted some key shifts that point to a substantial increase in both travel frequency and spending.
More trips, longer stays, bigger budgets
The average American holiday traveler is planning 2.14 trips this season, a jump from 1.88 trips in 2023. In addition, 64% of travelers say they’ll take more than one trip, compared to 57% last year. This surge in enthusiasm is matched by a rise in longer vacations, with 33% of Americans planning trips lasting a week or longer, up from 25% in 2023.
The motivation behind this travel boom seems to stem from a more optimistic financial outlook. Nearly half of Americans (46%) say their finances improved over the past year, up from 31% in 2023. With more disposable income, travel has become a higher priority. For many, the holiday season offers a chance to splurge and four in 10 of those with increased budgets say they’re spending more because “travel has become more important to me.” This is evident in the growing share of travelers splurging on upgraded experiences. Whether it’s premium airfare, more luxurious accommodations or extra services, Americans are leaning into the “experience economy.”
Higher income, young travelers show high enthusiasm
High-income and younger travelers are expected to drive the most significant growth. Households earning $100K or more now represent 45% of the holiday travel market, up from 38% in 2023. This group is planning more frequent and longer trips, with the average number of planned trips jumping from 1.9 in 2023 to 2.5 in 2024. Notably, these higher earners are also planning to spend more per trip, with half of them citing the increasing importance of travel in their lives as the reason for their higher budgets.
Gen Z is showing strong enthusiasm for holiday travel, representing 14% of travelers this year, up from just 8% in 2023. Millennials, meanwhile, are expected to make the largest increases in both trip frequency and spending. The survey shows 39% of millennials plan to spend more this season, a major uptick that reflects their growing prioritization of travel experiences.
‘Laptop luggers’
A notable trend this year is the sharp rise of the ‘laptop lugger,’ or travelers who plan to work while on their longest trip, the study found. Half of the respondents plan on working remotely during their holiday.
This shift has clear implications for the travel industry. Laptop luggers tend to travel more frequently, stay longer and spend more compared to those who completely disconnect. On average, laptop luggers are planning 2.7 trips, compared to 2 for those taking a break from work. Their vacations are also longer and their travel budgets are higher.
Travel providers: prepare for increased demand
As more Americans embrace the joy of travel, the holiday season is shaping up to be one of growth for the industry. For travel suppliers, this presents both opportunities and challenges. Bigger budgets mean higher expectations and the increased volume of travelers means increased pressure on staff and systems to manage the demand, especially during peak travel days. Travel providers must be ready to meet the needs of a more demanding and affluent traveler base.
