Friday, November 21, 2014

Thanksgiving Travel Forecast at 7-Year High

With gasoline prices at a five-year low, AAA Travel predicts that 46.3 million Americans will travel more than 50 miles to celebrate the holiday, the highest number of travelers since 2007 and a 4.2% increase from a year ago. Most of those travelers (41.3 million) will be driving.

AAA expects 3.55 million Americans to fly to a holiday destination this year, the largest number since 2007. Airfares are about 1% higher this year, while mid-range hotel rates are up 8% and car rentals are up 10%.

AAA estimates that Americans will spend an average of $573 this holiday weekend. Slightly more than 31% of that figure will go to pay for fuel while 22% will pay for food and drink, and shopping will account for 20%.

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