WASHINGTON -- Despite gasoline prices above $4 per gallon in many regions and a slight decline in automobile travel, AAA expects nearly 35 million Americans to travel this holiday weekend. It projects 34.9 million Americans will travel 50 miles or more from home during the Memorial Day holiday weekend, a slight increase of 0.2% (100,000 travelers) from the 34.8 million people who traveled one year ago.
The Memorial Day holiday travel period is defined as Thursday, May 26 to Monday, May 30.
"Memorial Day travel experienced a gain of more than 14% in 2010, and this [image-nocss] year we expect to add slightly to that gain due to an increase in air travel and an improvement in the overall domestic economic picture," said AAA president and CEO Robert L. Darbelnet. "Some travelers will compensate for the higher fuel costs by cutting other areas of their travel budgets."
Overwhelming, the majority of Americans will travel by automobile, down slightly from last year. Approximately 30.9 million people plan to drive to their destination, a small decline from the 31 million who drove last year. In spite of gasoline prices, more than a dollar per gallon higher than a year ago, automobile travel continues to be the dominant mode of transportation. Almost nine out of 10 holiday travelers (88%) will take to the nation's roadways during the Memorial Day holiday weekend. The national average price for regular gasoline is $3.91, compared to $2.85 this time last year.
A survey of intended travelers found that six out of 10 said rising gasoline prices would not impact their travel plans. Of the remaining four out of 10 travelers who said rising gasoline prices would impact their travel plans, 70% will economize in other areas and the rest will take a shorter trip or travel by an alternate mode of transportation.
Nearly 2.93 million leisure air travelers (8% of holiday travelers) will fly during the holiday weekend, an 11.5% increase from last year's 2.63 million air travelers. The remaining 3% of holiday travelers are expected to travel by other modes, including rail, bus and watercraft.
AAA expects that the average distance traveled by Americans during the Memorial Day holiday weekend will be 792 miles, which is 27% greater than last year's average travel distance of 626 miles. Air travel is expected to gain a larger share of overall travel, and is likely the cause of a substantial increase in the average travel distance compared to a year ago. Median spending is expected to be $692, a decrease of 14% from $809 last year.
AAA's projections are based on economic forecasting and research by Boston-based IHS Global Insight. AAA has been reporting on holiday travel trends for more than two decades.
To view the complete AAA / IHS Global Insight 2011 Memorial Day Holiday Travel Forecast, including regional breakouts,click here.
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