AmEx Foresees Uptick In Holiday Travel Spend

  • October 26, 2010
Despite continuing economic concerns, 30% of travelers say they will be spend more to see their families this holiday versus last year, according to the American Express Spending & Saving Tracker.

Whether it's feeling obligated to see family (24%) or in the spirit of preserving or starting a holiday tradition (16%), travel through year's end centers around family and friends (the reason 60% of Americans will travel) with the exception of the 2% of consumers who say they will travel to avoid seeing family.

With an eye on extracting maximum value from their travel plans, 77% of travelers will employ cost-savings tactics like traveling off peak (13%), 11% cash in on loyalty/reward points, and 8% hold out for last-minute deals.

On average, travelers plan to spend $460 per person with that figure jumping to $500 per person among young professionals and $560 among affluents.

While most travelers will take to the roads and skies for Thanksgiving (19%) and Christmas (19%), one-tenth (10%) will take an off-peak trip before the end of the year and 6% will travel to ring in the New Year.

The research sample of 2,005 adults included the general U.S. population, as well as two subgroups -- the affluent and young professionals.--Tanya Irwin



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