75% of Holiday Travelers Are Cutting Back. Are You?

Over 75% of holiday travelers are adjusting their plans for Thanksgiving, Hanukkah, Christmas and New Year's, due to inflation and pricing pressures, Bankrate survey shows.

A passport sits next to a jar filled with small bills and pennies.
(Image credit: Getty Images)

Tis the season of festive events punctuated by some great little life moments with friends and family. But as the holidays approach, inflation is having an impact on how people celebrate. 

While more U.S. adults are planning to travel this holiday season than last year, inflation is affecting many holiday travelers’ plans. In a recent holiday travel report by Bankrate, the majority (77%) of U.S. adults who plan to travel for the holidays, Thanksgiving, Christmas, Hanukkah, New Year’s, etc., say they are modifying their plans because of high inflation and rising prices. Many travelers (31%) also worry about the strain their holiday travel plans will place on their budget. 

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Kathryn Pomroy

For the past 18+ years, Kathryn has highlighted the humanity in personal finance by shaping stories that identify the opportunities and obstacles in managing a person's finances. All the same, she’ll jump on other equally important topics if needed. Kathryn graduated with a degree in Journalism and lives in Duluth, Minnesota. She joined Kiplinger in 2023 as a contributor.