ORLANDO, Fla. -- Vehicle travel for the Thanksgiving 2016 holiday will rise for the eighth straight year, hitting a volume that is double digits above the previous 15 years’ average.
AAA projects the number of Americans traveling 50 miles or more this Thanksgiving holiday will jump by one million compared to 2015, for a total of 48.7 million travelers. This would be the highest volume of Thanksgiving travelers since 2007.
- To see the complete 2016 Thanksgiving forecast, click here.
More than 89% of Americans traveling this Thanksgiving are doing so by car.
AAA is projecting a 1.9% jump in car travel for the Thanksgiving holiday period, which it defines as Wednesday, Nov. 23, through Sunday, Nov. 27. This equates to 43.5 million travelers expected to hit the road, the highest volume since 2005 and more than 800,000 greater than the Thanksgiving 2015 period. This would also be 12.5% above the average for 2001 to 2015.
This nearly 2% increase in vehicle travel compares to a 1.6% rise in air travel and a less than 1% increase in other modes of transportation such as train, buses and cruise ships.
Fueling the growth in travel is low gas prices. As of Thursday, Nov. 17, the national average for regular gasoline was $2.16 per gallon, which is 11 cents per gallon (CPG) higher than the average for Thanksgiving 2015. That said, AAA still expects the average in 2016 to be the second-lowest for the holiday since 2008, when the price was $1.85 per gallon.
Even though the national average has risen incrementally recently, AAA estimates that drivers have seen a more than $28 billion savings in fuel costs for 2016 year to date vs. the same span of time last year.
AAA also credits the growth in travel to economic improvements during the second half of 2016, led by rising wages, consumer spending and strong consumer confidence.
The Orlando, Fla.-based travelers association bases its projections on economic forecasting and research by IHS Markit. London-based IHS has partnered with AAA on holiday travel trends since 2009.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.