PwC's Holiday Outlook 2026, published September 8, found that US consumers expect to spend $419 on holiday travel this year, down 24% from $553 in 2025, and $708 on gifts, down 11%. With budgets tightening and fewer people traveling, hosting New Year's Eve at home is shaping up as the natural way to celebrate without the big-ticket costs.
What's trending
Americans are pulling back on holiday spending this year, and travel is taking the biggest hit. According to PwC’s Holiday Outlook 2026, which surveyed 4,093 US consumers in late June, the average shopper expects to spend $419 on holiday travel, down 24% from $553 last year. Gift spending is also down 11% to $708 per person, and overall holiday spending is expected to fall 5%.
Only 40% of consumers say they plan to travel this holiday season, with another 17% still undecided. Younger shoppers are cutting hardest: PwC found millennials plan to spend 37% less on travel and Gen Z 29% less.
Why it's resonating
Holiday travel costs add up fast, and late December is one of the most expensive times of year to fly or book a hotel. Staying closer to home, and celebrating with people nearby, is an easy place to save.
PwC's data also points to what people value instead. Among Gen Z, 81% say they value offline activities, and 63% say shared meals matter more than physical presents. The celebration itself, not the destination or the gift pile, is what people want to spend on.
Where New Year's Eve fits in
New Year's Eve is the most obvious beneficiary. Skipping a pricey night out or a trip means the budget can go toward a great evening at home: good food, a bottle of bubbly, and the people you'd most like to ring in the year with.
Hosting doesn't have to mean a big production, either. A simple champagne toast or dinner party with a clear plan and a proper invitation sets the tone. Hosts who want the invitation sorted quickly can use an editable design like the Cheers to 2027 black and gold champagne toast New Years Eve invitation, which can be printed or texted, and comes with a free party planner to keep the budget and guest list on track.
The bottom line
With travel and gift budgets shrinking, 2026 looks set to be the year of the at-home New Year's Eve. Expect fewer airport countdowns and more living-room toasts, and more hosts planning early to make their own celebration the one guests look forward to.