With the economy recovering, companies are spending more on their holiday parties than in the past few years. However the traditional large, expensive holiday party seems to be a thing of the past. Parties are often being held in private homes and the trend of less alcohol and food continues. Surveys have found that most companies still feel parties are good for moral and that employees often like the smaller, less elaborate festivities.
See "Toned down, office parties make return", Patti Bond, The Atlanta Journal-Constitution, December 17, 2003