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Americans are determined to travel this holiday season, and certain workarounds are helping them do so.
Being able to work remotely is a huge advantage when planning your itinerary.
According to Deloitte’s Vacation Travel Survey, approximately 49% of employed travelers are “laptop takers,” or people who intend to work somewhere during their vacation. That’s up from 34% last year.
Research shows that this flexibility allows employees to take trips or extend trips they otherwise wouldn’t be able to take.
The study found that while most people of all ages and income levels carry laptops with them, Gen Z and high-income earners, defined by Deloitte as those born between 1997 and 2012, are the most likely to carry laptops, at 58% and 52%, respectively. It is said that it accounts for a large proportion. .
Deloitte surveyed 4,074 U.S. adults in September. Of this group, 2,005 people were identified as holiday travelers.
Eileen Crowley, Deloitte’s vice chair and U.S. transportation and hospitality services certification leader, said the change in people carrying laptops is “quite a huge jump. It’s across almost every income level and age group.” .
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Julia Pollack, chief economist at ZipRecruiter, said remote work has become a priority for job seekers since the pandemic.
In Q3, 51% of job seekers surveyed said being able to work from their favorite location was their top reason for working remotely, and in Q1 2022, ZipRecruiter data shows This is an increase from 40.8%.
“For American workers, the value of being able to work from anywhere has clearly increased through the massive experiment in remote work,” she said.
In addition to working while traveling, experts say travelers are coming up with other workarounds, such as driving instead of flying and cutting back on other expenses. .
“People are willing to cut corners to save money, but they don’t want to skip travel entirely,” said Ted Rothman, an industry analyst at Bankrate.
Who will spend money on vacation travel this year?
Experts say this year’s holiday travel and spending trends are being driven by high-income earners.
When it comes to holiday travel, 52% of shoppers with incomes of $100,000 or more say they can “easily afford” the expense, according to research firm Morning Consult. This is the highest share compared to middle- and low-income groups.
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“Higher-income consumers are less price sensitive,” Stacey Francis, president and CEO of Francis Financial, a New York City wealth management, financial planning and divorce financial planning firm, recently told CNBC. spoke.
“They’re not as budget conscious as people in lower wage brackets,” said Francis, a member of CNBC’s Financial Advisory Council.
Among the generational groups, Millennials, those born between 1980 and 1996, plan the highest budgets and longest trips. According to Deloitte research, Millennials plan to take approximately 2.6 trips during the holiday season and spend an average of $3,927.
What will make vacation travel possible this year?
According to Bankrate, more than four in five vacationers, or 83%, are finding ways to save money this holiday season, like driving instead of flying.
“Most of these people are still traveling. They’re just doing things differently to cut costs,” Rothman said.
Separately, travel website Hopper’s 2024 Holiday Travel Outlook found that around 50% of respondents are cutting back on other expenses, and 49% are taking advantage of discounts and sales.
Among other strategies, Hopper’s report found that 22% plan to travel on off-peak days and 21% cover some of their expenses with credit card points or miles.
Pollack says if you plan on pulling out your laptop and working during the holidays, be sure to check your company’s rules regarding remote work. Some companies require employees to work from home, within the company’s home state, or within the United States, unless otherwise authorized.
“If you try to work elsewhere, you risk having your access blocked, being penalized, or even having your employment terminated,” Pollack said.
Also talk to your manager or director about ideas. “Some managers only care about you getting the job done, not how you do it,” she said.
Finally, you need to make sure that the area you plan to work in has a strong power grid or service and that the Wi-Fi is reliable.
“If you’re busy with work, make sure you’re in a place where you can work,” Pollack says.
Experts say Americans’ pent-up demand after pandemic-era lockdowns and restrictions has led to a surge in spending on experiences like travel and concerts.
But even years later, travel “seems to be here to stay,” Deloitte’s Crowley said. “People are valuing it and putting more space in their budgets.”
