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BY Jennifer Mattson

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Visa released its 2026 Holiday Spending Outlook report, and it found that while consumers put travel at the top of their holiday shopping list, they plan to spend the bulk of their money this season on gifts.

The survey also found a real difference in who is traveling, and in overall holiday spending based on income levels, as Americans face high inflation and an increasing cost of living.

More than half of those surveyed say they’d prefer to travel and go to live events—but only 15% are actually pulling the trigger on experiences. Meanwhile, 27% plan to buy physical gifts, according to Visa, the top payment network in the U.S.

This is partly because of the high cost of travel—made worse by soaring fuel prices and the war in Iran—which has many Americans sticking closer to home for the holidays.…