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Americans Expected to Spend $200 Billion on Holiday Travel
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With the travel industry rebounding, Americans are expected to travel more this holiday season than last year, with 43 percent planning to head out of town at some point.
According to NerdWallet, 2 in 5 Americans plan to spend money on flights or hotel stays during the holiday season, up 24 percent from last year’s numbers.
Holiday travel is coming — what are your plans?
— NerdWallet (@NerdWallet) October 27, 2021
A new survey carried out by NerdWallet found that Americans are likely to spend close to $200 billion on holiday travel this year. That works out to approximately $1,814 per traveler – and most are planning on charging those travel expenses to their credit cards.
“COVID ruined so many holidays and special events. Americans are ready for a holiday season that feels like it used to, and for many, that means traveling to visit family and friends,” says Sara Rathner, travel expert at NerdWallet. “The urge to spare no expense is strong, but set a budget and try to stick to it. You can have a special holiday without spending the new year paying the price for it.”
Still, many Americans are still apprehensive about traveling during the pandemic, with NerdWallet reporting nearly 24 percent have changed their preferred method of transportation and 22 percent have changed their destination and lodging types due to COVID-19.
“Sadly, we’re still having to make many of the same difficult decisions about holiday travel as we had to make in 2020. If you want this year’s celebrations to make up for last year’s holiday-by-video-call, just be mindful of your spending. Taking care of yourself this year means following COVID precautions, but it also means protecting your finances, too,” Rathner added.
