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4 in 5 holiday travelers changing plans due to inflation survey finds

Rising costs force travelers to rethink their holiday plans.

The Impact of Inflation on Holiday Travel

Inflation has taken a significant toll on holiday travel plans, with a substantial number of Americans altering their travel arrangements due to rising costs.

22% are choosing more budget-friendly options for food and activities. The Great Thanksgiving Travel Shift

The Pre-Holiday Travel Trends

As the holiday season approaches, many travelers are reassessing their plans and making changes to their travel itineraries. According to recent data, a significant percentage of those planning to travel during Thanksgiving or the December holidays are opting for alternative arrangements. 47% of travelers are making changes to their plans, which could include adjusting their travel dates, destinations, or modes of transportation. 32% are cutting down on travel days, which could be due to various reasons such as work commitments, family obligations, or financial constraints. 30% are choosing more budget-friendly options for their trips, which could involve selecting cheaper destinations, accommodations, or activities.

The Rise of Alternative Travel Options

The shift in travel trends is largely driven by the desire for more affordable and convenient options. With the increasing cost of air travel and accommodation, many travelers are looking for ways to save money without sacrificing their holiday experience.

Holiday travel is on the rise, driven by increased disposable income and improved air travel options.

The Rise of Holiday Travel

The holiday season is upon us, and with it comes the usual surge in air travel. According to recent surveys, a significant portion of Americans plan to take to the skies this holiday season. However, the numbers are not as rosy as they seem.

Factors Contributing to the Rise of Holiday Travel

Several factors contribute to the rise of holiday travel. These include:

  • Increased disposable income: As the economy continues to grow, more people have the means to afford travel.

    The Impact of the COVID-19 Pandemic on Travel Plans

    The COVID-19 pandemic has had a profound impact on the way people plan and make travel decisions. As the world grapples with the ongoing health crisis, many individuals are reassessing their travel plans and making changes to ensure their safety and well-being.

    The Shift in Travel Preferences

  • A survey conducted by the American Automobile Association (AAA) found that 86% of millennials plan to make changes to their travel plans due to the pandemic. In contrast, baby boomers are less likely to modify their plans, with 72% stating they will stick to their original travel plans. The shift in travel preferences can be attributed to the increased awareness of the risks associated with traveling during the pandemic.

    The Source: Information for this article was sourced from a Bankrate survey conducted in September 2024, with data representing a broad cross-section of U.S. adults. Additional commentary was provided by Ted Rossman, Bankrate’s Senior Credit Card Analyst.

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