NATIONAL REPORT – Survey results from 4,000 U.S. consumers
suggests 44% are currently planning to travel around the holidays, similar to
last year (46%). Fully, 56% are either not traveling for the holidays or don’t
know if they are yet, on par with last year (54%), according to PwC’s Holiday
Outlook Trends report.
- Gen Z: 55% (down from 61% in 2024)
- Millennials: 55% (similar to 54% in 2024)
- Gen X: 39% (similar to 40% in 2024)
- Baby Boomers: 26% (down slightly from 29% in
2024)
The following percent of each generation is either not
planning to travel or doesn’t know yet:
- Gen Z: 45%
- Millennials: 45%
- Gen X: 61%
- Baby Boomers: 75%
About half (48%) of those planning to travel in 2025 say
they’re planning to visit family and friends.
In addition, about half (49%) say they prefer to celebrate
at home and 43% cite cost concerns. Cost concerns rise to 50% for Gen Z
respondents who say they’re not traveling.
When asked about ever-present AI, 76% of millennials say
they are likely to use an AI agent for travel recommendations.
More broadly when it comes to holiday spending, Gen Z plans
a 23% cut in holiday spending (after a 37% surge last year), while Boomers
plan a 5% increase.
Big picture findings from PwC: consumers expect their overall
seasonal spending to decline on average by 5% from 2024 — the first notable
drop since 2020. There was a 7% increase in average consumer holiday spend 2023
to 2024.
Fully, 84% of consumers expect to cut back on spending in
the next six months. Survey respondents cite rising prices, new tariffs and the
higher cost of living as key reasons.
At the time of the survey from June 26 to July 9, 2025, many
consumers weren’t sure how higher import costs might affect prices. And with
retailers pulling forward inventory and uncertainty around tariffs continuing,
prices and spending pressure may ease up more than consumers anticipated,
according to PwC.