Three-quarters of the UK are expected to enjoy celebrations from the comfort of their own homes.
Many are expected to cancel plans, to avoid the bitter chill sweeping Britain.
One in four will opt for a cosy night in with their partner, while 7% will either host or attend a dinner party, according to Post Office Money Home Insurance’s annual New Year’s Eve report.
“While some are choosing a stress-free night in, others are opting for a less quiet affair by hosting friends and family”
Rob Clarkson, Post Office Money Insurance
The same number will bring in 2017 with a knees-up at a house party while one in six will see in the new year alone.
People hosting a party will splash out £111 on average compared to those celebrating at the boozer, a club or a restaurant, who will spend £107.
The average spend is set to be £54 per person, with the biggest splurgers being revellers aged between 18 and 34, who will pay out about £69 each.
But the real cost of staying in could be higher because forking out for breakages adds on an average of £71.
Rob Clarkson, managing director at Post Office Money Insurance, said: “New Year’s Eve 2017 will see 40million people across the UK opting for a big night in.
“While some are choosing a stress-free night in, others are opting for a less quiet affair by hosting friends and family.”