Every family has different relationships, and situations, so there's really no hard fast rule to suit all.
We know from listening to many that we are an oddity it appears in this day and age, but we would be devastated to be separated from our children Christmas Eve & Christmas Day (yes they are 32 and 25 and the youngest has a fiance). Christmas has always been a very very important family time for us, including when our parents and grandparents were with us, and we take pride in our traditions, as we see too many in recent decades falling to the wayside. I recall even Uncles and their families in the RAF/Army trying to be home most Christmas' where at all possible.
We are so very very close knit, and whilst there is social media today that there wasn't years ago, it's still not the same as feeling the touch and feel of each others bodies embracing, and wiping away a tear or hearing laughter as we all reminisce and play games together.
We'd rather have them fly to us or us to them, using some of the allocated gift budget than not be together........ but to each their own. If you think about it we only get if we are truly blessed maybe 50 or 60 Christmas' to spend together, and we cherish each and every one - our children and hopefully one day grandchildren are too precious to us to miss out on, unless it's absolutely, totally an impossibility.
You must do what you are comfortable with, having no regrets, as stated before every single family relationship is different so no one size decision fits all.