"There seems to be lack of inspiration and motivation amid people as many are foregoing the traditional New Year celebrations of going out and partying," Assocham Secretary General D S Rawat said.
The survey was conducted among people belonging to the age group of 18-30 years. It drew responses from 2,000 college going students, young corporate executives and professionals.
Participants in the survey hailed from 10 cities, including Ahmedabad, Bangalore, Bhopal, Chandigarh, Chennai, Delhi, Jaipur, Kolkata, Lucknow and Mumbai.
About 700 of those surveyed said they have no plans to go out for parties at hotels, clubs, pubs and other such places arranging special events on the New Yea's Eve, majority of these (60 per cent) being women many of whom cited security concerns as the main reason prefer staying indoors.
Financial woes owing to rising inflation was the second most popular excuse for people to refrain from New Year celebrations followed by job security related concerns, rampant traffic jams, need for sound sleep, cold temperature and others.
Majority of those staying home on the New Year's Eve said they plan to host a low-key gathering with a few close friends, family and relatives.
Besides, 1,100 respondents said they plan to go out for celebrating the New Year with friends and relatives. Majority of these (65 per cent) said they would be going out for dinner parties with family or friends within their city itself.
Out of the remaining, 25 per cent said they have plans to usher-in the New Year at some hill station, coastal destination and other nearby tourist hot-spots, whereas only a handful (10 per cent) said they would be travelling overseas, the survey pointed out.