Workplace flexibility is helping Americans take longer trips this holiday season, report finds – Foxton News
Americans are seizing every opportunity to travel this holiday season, using creative workarounds to make their plans possible. Remote work provides a significant advantage in crafting travel itineraries.
Nearly half (49%) of employed travelers, known as “laptop luggers,” plan to work during their holiday vacations, marking an increase from 34% last year, according to Deloitte’s holiday travel survey. This flexibility enables workers to take trips they might otherwise forego or extend their vacations. Gen Zers (born 1997–2012) and high-income earners lead this trend, with 58% and 52% of these groups, respectively, working during their travels.
Deloitte surveyed 4,074 American adults in September and identified 2,005 as holiday travelers. Eileen Crowley, Deloitte’s vice chair and U.S. transportation, hospitality, and services attest leader, noted the rise in laptop luggers represents “a pretty high jump across all income levels and age groups.” Julia Pollak, chief economist at ZipRecruiter, emphasized that remote work has become a top priority for job seekers since the pandemic. In the third quarter, 51% of job seekers cited the ability to work remotely as a primary motivator, up from 40.8% in early 2022.
Travelers are also finding other ways to save money. Many opt to drive instead of fly or cut expenses in other areas. “People are willing to cut corners to save money, but they don’t want to skip the trip entirely,” said Ted Rossman, an industry analyst at Bankrate.
High-income earners are shaping holiday travel and spending trends this year. According to a Morning Consult survey, 52% of shoppers earning $100,000 or more said they could “easily afford” holiday travel, a significantly higher percentage than lower-income groups. Stacy Francis, president of Francis Financial, explained that higher-income consumers are less price-sensitive and budget-conscious compared to lower-wage earners.
Millennials (born 1980–1996) stand out among generational groups, planning the longest and most expensive travel. Deloitte’s survey found that millennials expect to take an average of 2.6 trips during the holiday season, spending about $3,927 in total.
High Earners Drive Holiday Travel Trends
High-income individuals are leading holiday travel spending this year, according to experts. Morning Consult reports that 52% of shoppers earning $100,000 or more say they can “easily afford” holiday travel, marking the highest share compared to mid- and low-income groups.
“Higher-income consumers are not nearly as price sensitive,” explains Stacy Francis, president and CEO of Francis Financial, a New York-based wealth management firm. Francis, who is also a member of CNBC’s Financial Advisor Council, adds, “They’re not nearly as budget-conscious as people in lower-wage-earning brackets.”
Millennials Set the Pace for Travel Spending
Millennials, born between 1980 and 1996, stand out as the generation with the largest budgets and longest travel plans. Deloitte’s survey reveals that millennials intend to take about 2.6 trips during the holiday season, spending an average of $3,927.
Travelers Find Creative Ways to Save
To keep holiday travel within reach, 83% of travelers are adopting cost-saving strategies, according to Bankrate. Many choose to drive instead of fly, cut back on other expenses, or take advantage of discounts and deals.
“Most of these people are still traveling; they’re just doing so differently to cut some costs,” explains Ted Rossman, an industry analyst at Bankrate.
Hopper’s 2024 Holiday Travel Outlook reveals additional ways travelers are saving:
- 50% are reducing other expenses.
- 49% are hunting for discounts and deals.
- 22% plan to travel on off-peak days.
- 21% are using credit card points or miles to offset costs.
Remote Work Fuels Flexibility
Remote work allows some travelers to combine work and leisure. However, Julia Pollak, chief economist at ZipRecruiter, warns employees to check company policies on working remotely during vacations. Companies may limit remote work to specific locations, and unauthorized arrangements can lead to penalties or even termination.
“Touch base with your manager,” advises Pollak. “Some managers just care that you’re getting the job done and aren’t concerned how.”
Pollak also urges workers to ensure their location has reliable Wi-Fi and electricity if they plan to work during their trip.
Travel Spending Remains a Priority
Americans continue prioritizing experiences like travel and concerts even years after pandemic restrictions eased. Experts attribute this to pent-up demand and a sustained emphasis on creating memorable experiences.
“Travel seems to be something that’s sticking,” notes Eileen Crowley, vice chair at Deloitte. “People are placing value and making room in their budgets for travel.”
