Holiday Travel Numbers - Peter Greenberg Travel Detective
As the holidays approach, the travel numbers are in — fewer Americans will be traveling between now and the end of the year — but it’s interesting to note who will be traveling and how much they will spend.
A newly released PricewaterhouseCoopers report says it’s not the boomers who will be traveling as much — but the millennials and Gen Z generations. They will be spending more — millennials up 12% from last year and Gen Z’s travel budget is up 43% over last year.
But the most significant numbers are 85% of consumers are reducing their travel spending, with 31% cutting back on their trips. That’s one reason — with the exception of Thanksgiving — why average airfares and hotel rates will continue to drop between now and the end of the year.
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