U.S. Thanksgiving Travel to Climb 11% on Strengthening Economy, AAA Says
U.S. travel during the Thanksgiving holiday weekend will rise 11 percent from last year on improved economic conditions, AAA said today.
About 42.2 million people will journey 50 miles or more from home this year, up from 37.9 million last year, AAA, the nation’s biggest motoring organization, said in a statement.
“While Americans remain cautious with household budgets and discretionary spending amidst high levels of unemployment, many are in a better financial position this Thanksgiving than a year ago,” AAA President and CEO Robert Darbelnet, said in a statement.
Automobile transportation will account for 39.7 million of the holiday travelers, a 12 percent increase from last year. The number of air passengers will rise 3.5 percent to 1.62 million, according to the report.
The average price of a gallon of self-serve gasoline will be between $2.85 and $2.95 a gallon over the holiday period, according to AAA. Regular gasoline at the pump, averaged nationwide, is $2.893 a gallon, 10 percent higher than a year ago, AAA said today on its website.
Americans will spend approximately $495 per household to travel during the holiday period, which runs from Nov. 24 through Nov. 28, with a round-trip average of 816 miles, AAA said. The Thanksgiving holiday falls on Nov. 25 this year.
AAA’s projections are based on research by IHS Global Insight of Lexington, Massachusetts.
To contact the reporter on this story: Aaron Clark in New York at aclark27@bloomberg.net
To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net
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