saving despite the economy, according to Wall Street Journal consumer trends reporter Rachel Wolfe. According to Bankrate, 77% percent say they are likely to change their winter holiday plans, citing inflation or rising prices that have remained inflated post-pandemic.ĬoPilot looked into how inflation and consumer attitudes throughout 2023 are impacting Americans’ holiday travel plans using reports from Deloitte and Bankrate, and other media sources.Īmericans are also surprising economists with the levels of spending vs. But their plans in 2023 may look different than other years.
Still, nearly half of Americans plan to travel for the 2023 end-of-year holiday season, according to a Deloitte holiday travel report. Americans face a triad of financial pressures between interest rates climbing to a 23-year-high, the return of student loan repayments, and core inflation remaining high-though thankfully, inflation has sharply decreased from mid-2022 when rates were at the highest they’d been in 40 years. Rounding out 2023, 1 in 3 American holiday travelers are worried about spreading their budgets too thin due to inflation or rising prices, according to Bankrate.
