AAA Travel predicts that 46.9 million Americans will travel more than 50 miles from home during the Thanksgiving holiday weekend, marking a 0.6 percent increase over last year and the highest number of travelers since 2007. The Thanksgiving travel period is defined as Wednesday, Nov. 25–Sunday, Nov. 29.
“This Thanksgiving, more Americans will carve out time to visit friends and family since 2007,” said Marshall Doney, president and CEO of AAA. “While many remain cautious about the economy and their finances, many thankful Americans continue to prioritize traveling to spend the holiday with loved ones.”
Lower gas prices are easing the cost of travel for many. The national average gasoline price stands at $2.15 per gallon, about $0.65 less than last year’s average of $2.80. With cheaper fuel, the large share of holiday travelers who drive benefit — approximately 89 percent plan to travel by car. AAA estimates around 42 million people will drive to their Thanksgiving destinations, a 0.7 percent increase from 2014.
Airfare is also more affordable for many travelers: round-trip domestic fares are roughly 10 percent below last year’s averages. However, some travel expenses have risen. Nightly hotel rates and daily rental car prices are up about 4 percent and 8 percent, respectively, compared with last year.
Overall, the combination of lower fuel costs and more affordable airfares is contributing to a modest rise in holiday travel, as many Americans choose to reunite with friends and family for Thanksgiving.