Inflation Taps Brakes on Holiday Travel Plans This Year
Photo Credit: A woman relaxing at home on Christmas. Concerns about inflation are a reason fewer Americans are making holiday travel plans. Deposit Photos / Vadim Vasenin
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Financial concerns are causing a large percentage of Americans to approach holiday travel cautiously, a major sign there are still limits to the seemingly unrestrained travel demand coming out of the pandemic.
High levels of inflation are contributing to a decline in Americans making travel plans for December holidays this year. Almost 43 percent of U.S. adults intend to travel for Christmas, Hanukkah or Kwanzaa, a 4 percentage point decrease from the figure recorded last year, according to a recent survey from travel industry website The Vacationer.
More than 67 percent of American adults said that inflation is affecting their plans for either Christmas, Hanukkah or Kwanzaa, with 41 percent responding that soaring prices were impacting their travel plan
