A new Bankrate survey reveals that 83% of Americans are adjusting their 2024 holiday travel plans due to inflation, with many opting for shorter trips, cheaper accommodations, and alternative travel methods.
As the holiday season approaches, inflation continues to impact American wallets — and for many, that means rethinking travel plans. A recent Bankrate survey shows that 83% of holiday travelers are finding ways to cut costs, whether by driving instead of flying, choosing less expensive accommodations, or opting for shorter trips.Despite economic challenges, people are still eager to celebrate with loved ones.
On average, travelers expect to pay around $925 for Thanksgiving flights, while December flights could set them back $1,165. Additionally, more than 1 in 4 travelers expect to take on debt to fund their holiday plans, either through credit card balances or buy now, pay later services.Interestingly, households earning less than $100,000 annually are the most likely to alter their travel plans due to inflation, with 86% reporting changes.
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