NEW YORK—Deloitte shared the findings from its 2025 Holiday Travel Survey. Key takeaways include:
- Holiday travel intent continued to rise, but budgets are not following suit: More than half (54 percent) of survey respondents intended to travel between Thanksgiving and mid-January with an average budget of $2,334, which is down 18 percent from 2024.
- Nearly 1 in 5 high-income travelers surveyed said they are worse off financially than a year ago, leading to a significant cut in travel plans.
- While Gen Z and millennials are expected to make up half of the holiday traveling public for the first time, surveyed Gen Z travelers planned to reduce their holiday budgets significantly, by 31 percent year-over-year.
- Generative AI (GenAI) use for travel planning was expected to surge to 24 percent this season among respondents, triple the rate from just two years ago.
The 2025 Holiday Travel Survey findings highlight that although more Americans may plan to travel this year between Thanksgiving and mid-January, financial concerns may impact this intent, with many travelers expected to scale back on the number of trips, trip duration, and their overall travel spending.
Deloitte’s 2025 Holiday Travel Survey is based on a survey of 3,896 Americans fielded between Sept. 26 and Oct. 3, 2025. Of these, 2,099 respondents who are planning to travel between Thanksgiving and mid-January qualified as holiday travelers.
Holiday Travel Intent
While more survey respondents plan to travel this holiday season, 31 percent said their financial situation is worse than a year ago, up from 26 percent in 2024. As a result, travelers across the board are expected to be more cost-conscious. Those respondents who planned to travel expected to take 1.83 trips this season compared to 2.14 in 2024, and spend an average of $2,334, which is down 18 down year-over-year.
- More than half of Americans surveyed (54 percent) planned to travel over the holidays, up 5 percentage points from 2024.
- High-income survey respondents (those making $100,000 or more per year) were expected to pull back the most: They planned to reduce their number of trips from 2.5 to 1.9, and 16 percent planned to significantly decrease their longest-trip budgets, up from 11 percent in 2024. Additionally, high-income travelers surveyed who felt worse about their finances are planning on cutting their in-destination spend (37 percent) or opting for less luxurious lodging (35 percent).
- All generations surveyed expected to cut back on holiday travel spending, except for Boomers, who planned to increase their travel spending by 4 percent year-over-year. While Gen Z and millennials were expected to make up half of the traveling public for the first time this holiday season, surveyed Gen Z travelers planned to reduce their holiday budgets the most, down 31 percent year-over-year.
- The number of surveyed travelers who planned to spend more this holiday season is down 9 percentage points year-over-year to 19 percent. Of those planning to spend more, 1 in 5 said it is because they have not taken a big trip recently and have more money to spend, while twice as many (38 percent) said they cannot afford to travel.
- More survey respondents were downgrading their trips and were hesitant to spend on upgrades. Among travelers planning to reduce their budgets, they said they’ll cut back on in-destination spend (28 percent versus 22 percent in 2024) and drive instead of fly (29 percent versus 21 percent in 2024). Among those planning to spend more this season, splurging on more luxurious lodging is down the most (36 percent versus 44 percent in 2024).
- Nearly half (44 percent) of employed travelers responding to the survey intended to work, at least partially, on their longest trip of the holiday season, compared to 49 percent last year. This group of “laptop luggers” planned to take more trips (2.3 trips) and spend more ($3,283 for their longest trip). One in 3 laptop luggers said their longest holiday trip will last at least seven nights.
Travel
Travel providers may see a weaker holiday season as surveyed Americans become more mindful of what they pack into their itineraries.
- Fewer surveyed travelers intended to catch flights this holiday season: 47 percent of travelers will take a flight on their longest trip of the season, down from 55 percent in 2024.
- Respondents from all income levels planned to fly less, with high-income earners pulling back the most. 53 planned to take a domestic flight at some point during the season, down from 63 percent last year. International travel was expected to increase slightly, among low-income earners (10 percent versus 6 percent in 2024).
- 37 percent of air travelers surveyed planned to purchase the lowest-price ticket on their preferred airline.
- More than half (57 percent) of surveyed travelers planning to drive instead of fly on their longest trip said they were doing so to save money, up from 47 percent in 2024.
- Middle and high-income respondents planned to pull back on hotel stays, while low-income earners planned to increase their hotel stays slightly, up 3 percentage points year-over-year.
- 63 percent of surveyed hotel travelers ranked rates in the top three attributes in their hotel selection, followed by customer service levels (29 percent) and loyalty programs (27 percent).
- Surveyed travelers planned to cut back on tours and activities year-over-year, with participation in ticketed or public events expected to decline 9 percentage points on Americans’ longest trips, guided day trips down 8 percentage points, and attractions down 7 percentage points.
“Many Americans are planning fewer flights and hotel stays, with tighter wallets in tow,” said Kate Ferrara, vice chair and U.S. transportation, hospitality, and services sector leader, Deloitte. Although our survey found that more consumers plan to travel to be with loved ones, they are hesitant to spend on extending and upgrading their trips. This is expected to leave many travel providers bracing for a softer winter. But those who lean into loyalty and shifting preferences, particularly among younger generations, could be better positioned to weather the journey ahead.”
Travelers Use GenAI as a Travel Agent
The use of GenAI for holiday travel planning increased among survey respondents, as more travelers leveraged the technology for activity recommendations, destination ideas, and accommodation options that match their tastes and budgets.
- Among respondents, GenAI adoption in travel planning was expected to reach 24 percent this holiday season, up from 16 percent in 2024 and 8 percent in 2023. All surveyed generations increased their use of GenAI technology, particularly millennials (31 percent) and Gen Z (30 percent) travelers.
- This holiday season, respondents planned to use GenAI the most to research activities and attractions (67 percent of those using GenAI for trip planning), followed by destinations (56 percent) and accommodations (54 percent).
- While only 24 percent of GenAI-using travelers surveyed planned to use GenAI for restaurant recommendations, the restaurant sector saw this research translate to actual visits the most (55 percent), compared to conversion on research related to flights (46 percent) and accommodations (45 percent).
- For their longest holiday trip, surveyed travelers preferred to book via a brand’s direct channel across travel products, including flights, hotels, and private rentals.
Holiday Travelers Find Room for Luxury
Even amid softening travel spend intentions, those surveyed appeared to be finding room for luxury in their holiday journeys.
- About 1 in 4 respondents (26 percent) qualified as luxury travelers, meaning they have stayed at a property they consider luxurious in the past two years and have stayed at a hotel with a nightly rate of $400 or more during at least two leisure trips in 2025.
- Among luxury travelers surveyed, Gen Z travelers (49 percent) linked luxury to the availability and quality of amenities, millennials (19 percent) (who travel with children more than others) associated it with on-property dining, and boomers (31 percent) associated it with extraordinary locations.
- Surveyed luxury travelers were also nearly twice as likely as others to book first-class air tickets, and when choosing a hotel, they gave much greater weight to customer service and loyalty memberships.
- Luxury travelers associated high service levels (42 percent) and brand name (20 percent) with a luxury hotel more than other respondents.
“Despite economic uncertainty, holiday travelers appear to be plugged-in and ready to roam,” said Eileen Crowley, U.S. transportation, hospitality and services leader, Deloitte. More surveyed travelers are embracing AI tools to seamlessly craft personalized adventures. What’s more, respondents are willing to splurge on a luxurious experience. Travel providers who focus on innovation and engaging consumers across generations and income levels will likely have the opportunity to capture attention from those planning more travel in the new year.”
