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Thanksgiving holiday road travel ramps up
LiveNOW's Christina Evans checks in with FOX 29 Philadelphia reporter Greg Payne to get the latest update on road conditions in Philadelphia ahead of Thanksgiving.
A new survey finds that high income earners are the only ones traveling more for the holidays in 2024.
Deloitte Insights used an independent online research panel to survey more than 2,000 Americans in September who were planning to travel between Thanksgiving and mid-January.
Published in the 2024 Deloitte holiday travel survey, the report found that 66% of high income Americans said they were traveling during the 2024 holiday season, compared to 59% in 2023.
In comparison, only 48% of middle-income travelers planned to travel (down from 51% in 2023) and only 34% of those with low-income planned to (versus 36% last year).
Passengers enjoy the comforts of first class on airplane. (Credit: Creative Touch Imaging Ltd./NurPhoto via Getty Images)
"High income and young Americans are the biggest drivers of travel this season," the report said, adding that 14% of holiday travelers in the survey were from the Gen Z generation (up from 8% in 2023) and 45% had a household income of more than $100,000 (versus 38% in 2023).
The study also found that spending sentiment was up sharply for the holiday season. The percentage of respondents who planned to increase their budget for their longest trip jumped to 28% from 18% in 2023.
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The biggest reason cited for the increase was that "travel has become more important to me." The biggest groups planning increased budgets included millennials and high income earners.