Holiday Travelers Will Double Their Spend, Amex Says

Half of Americans tell American Express they will be traveling this holiday season, doubling the amount they will spend to more than $1,500. And 17% will work with agents who can cut through the airfare clutter.

 

Travelers expect to spend an average of $1,521, 151% more than in 2015. Last year, 52% of Americans told American Express they would be traveling during the holidays, spending about $605, according to the American Express Spending & Saving Tracker.

 

In a further sign that travel agents are growing in popularity, 17% of consumers said they will work with a travel agent who can help them pick through the plethora of airfares available (vs. 13% in 2015).

 

Agents also have an opportunity to use their selling skills with these consumers. American Express found that 87% of Americans are willing to exceed their travel budget, especially for a unique experience relative to location (62%), local cuisine (45%) and value for money if a first-class airfare suits their needs (13%).

 

Visiting family or friends is down slightly this year, to 53% from 58% in 2015, while family vacations inched up to 31% vs. 30% in 2015. The average American is expected to travel with five people, putting the overall cost of a family holiday vacation this year at $9,129.

 

While three quarters of these trips will be domestic, more Americans are traveling internationally over this holiday season, as 81% were staying in the United States last year, so it is logical to see why those planning on flying increased significantly (50% vs. 43% in 2015).

 

One out of four will upgrade their travel options this holiday, with 18% saying they will choose a more expensive destination and 15% more flying first or business class.