Source: PwC

Leisure travel isn’t just back, it’s at capacity

47% of US consumers are intending to travel this holiday season.

  • The summer travel boom is continuing into winter, as spending is increasing a robust 12% vs. the 2022 holiday season.

Consumers are spending an average of $510 on travel, which is…

  • +12% from 2022, +11% from 2021. +87% from 2020, and +37% from 2019

Millennials are spending the most on travel this holiday season ($670)

  • Gen X is next ($611), followed by Gen Z ($447) and Boomers ($314)

Gen Z will increase its holiday travel spend by the largest amount from last year: +23% ○ Gen X and Millennials are also increasing their travel spends by +17% and +8% respectively

  • Boomers are the only age group to decrease their travel spend: -22% from last year
  • Leisure travel has hit its capacity, and airlines are looking to add more seats as flight prices increase.
  • 64% of holiday travelers will travel for leisure only, while 23% will use their holiday season travel for bleisure.

Whether they’re traveling domestically or internationally, travelers share the same concerns - 59% will travel within their state. 18% will travel outside the US.

Top international travel destinations include:

  • Mexico, Central American and Caribbean (41% of international travelers)
  • Western Europe (34%)
  • Canada (24%)
  • South America (24%)
  • Central and East Asia (17%)

68% of travelers are very or extremely concerned about rising travel costs, while 65% feel similarly about gas prices

  • 71% of millennials are very or extremely concerned about rising hotel costs compared with 61% of travelers overall

New groups emerge as leading travelers & travel spenders - bringing new priorities with them

  • Millennials will travel the most, with 61% planning to make trips this holiday season. ○ Gen Z comes in second at 58%, with gen X and boomers coming in at 41% and 27%, respectively.
  • 53% of Amazon Prime members plan to travel, compared to only 33% of those without a membership.
  • Concerned about rising costs, travelers are looking for ways to save, as 60% of consumers will redeem rewards to book travel

Read the full article at PwC