ORLANDO, Fla. -- AAA projects the number of year-end holiday travelers this year will top 100 million for the first time on record. Nearly one in three Americans will take a trip this holiday season, with 100.5 million expected to journey 50 miles or more from home. This represents a 1.4% increase over last year and the seventh consecutive year of year-end holiday travel growth.
The group defines the year-end holiday travel period as Wednesday, Dec. 23, 2015 to Sunday, Jan. 3, 2016.
“Rising incomes and low gas prices are helping to fill stockings this year, and more people than ever will choose to spend those savings on travel this year,” said Marshall Doney, AAA president and CEO.
The increase in holiday travel this year is being driven by continued improvement in the labor market, rising incomes and low prices, including gas prices that remain well below last year’s levels. This is helping boost Americans’ disposable income, but some consumers continue to remain cautious about their finances as they head into the holiday season.
More than 90% of travelers (91.3 million people) will drive to their holiday destinations, an increase of 1.4% over last year. Air travel is expected to increase by 0.7%, with 5.8 million Americans flying to their holiday destinations. Travel by other modes of transportation, including cruises, trains and buses, will increase 2.4%, to 3.4 million travelers.
The national average price for a gallon of gasoline remains poised to fall below the $2 per gallon benchmark by Christmas. The national average on Dec. 17 is $2.01, 53 cents less than last year. AAA expects most U.S. drivers will pay the lowest gas prices on New Year’s Day since 2009.
AAA’s projections are based on economic forecasting and research by IHS Global Insight. Click here to view the complete AAA/IHS Global Insight 2015 year-end holiday travel forecast.
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