Whether visiting family for festive celebrations, escaping the wintery chill for a beach getaway or embracing the snowy season on a cold-weather vacation, holiday season travel is hot on the radar for many clients this year.
Following is a roundup of observed trends from industry experts, so travel advisors can stay informed on what’s driving winter and holiday travel in 2024.
Trends From PwC
Trend 1: Travel Intent Is Strong for This Year’s Holiday Season
Tax and advisory firm PwC released its annual Holiday Outlook for 2024, revealing that intent to travel this holiday season is holding steady, with 46% of consumers planning a trip, compared to 47% last year. Broken down by gender, 55% of men plan to travel, compared to 42% of women.
Trend 2: Younger Generations Plan to Spend More
Among those planning to travel, the biggest spenders are millennials (with an estimated budget of $751, up 12% from 2023) and Gen Z (spending $639, an increase of 42% over last year). Gen X expects to spend $481 (down 21% from last year) and Baby Boomers intend to spend $321 (up 2%).
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Trend 3: Less Stress Over Disruptions
PwC found that people are generally less stressed about travel disruptions this year, including rising travel costs (61%, down from 68% in 2023), gas prices (58% versus 65%), rising hotel costs (54% compared to 61%), flight cancellations (51% versus 60%) and long delays at airports (50%, down from 58%).
Trend 4: Costs and Budgets Are a Growing Concern
Despite feeling less stressed in general about rising travel costs, consumers are keeping budgets top of mind, with 85% of consumers cutting back on discretionary spending, including 31% who are planning to take fewer trips than last year. Fifty-six percent of travelers are opting to stay with family and friends this year as a cost-saving option, up 11% from 2023.
Trends From The Points Guy
Trend 1: Hot Destinations
According to a report from The Points Guy and Points Path analyzing more than 7.2 million online searches, the most popular destinations for Thanksgiving and Christmas travel include New York, Los Angeles and Miami. Other hot spots that made the list are Cancun, Mexico, and Honolulu, Hawaii.
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Trend 2: The Holiday Season Is a Bad Time for Travel Rewards Redemption
Clients may want to save their earned points and miles for use at another time of year, as the report shows that loyalty rewards decrease in value during the holiday season. According to The Points Guy, average redemption value drops 6.47% for Thanksgiving week, and 3.6% around Christmas and New Year’s.
