Thanksgiving travel to reach highest level since 2007

AAA Travel projects 46.3 million Americans will journey 50 miles or more from home during the Thanksgiving weekend, the highest volume for the holiday since 2007 and a 4.2 percent increase over 2013.

Almost 90 percent of travelers (41.3 million) will celebrate the holiday with a road trip and likely will enjoy the lowest Thanksgiving gas prices in five years. The Thanksgiving holiday travel period is defined as Wednesday, November 26 through Sunday, November 30.

Thanksgiving holiday travel volume is expected to reach the highest level since 2007, with 46.3 million Americans taking a trip.

The 2014 forecast is 4.2 percent higher than the 44.4 million Americans who traveled last year and the greatest growth rate for any holiday since Independence Day 2012.

Road trippers likely will pay the lowest Thanksgiving price for fuel in five years. Today’s national average price of gas is $2.85 per gallon, which is 43 cents lower than the average price for Thanksgiving a year ago ($3.28 per gallon).

More than 89 percent of travelers (41.3 million) will travel by automobile, a 4.3 percent increase from 39.6 million last year.

Air travel for Thanksgiving is expected to be at the highest level since 2007, with 3.55 million Americans taking to the skies.

Travelers will encounter moderately higher prices with airfares one percent higher, mid-range hotels up eight percent and car rentals costing 10 percent more.

The average distance traveled this Thanksgiving will be 549 miles roundtrip and Americans will spend an average of $573 during the holiday weekend.

“This year, more Americans will give thanks for the opportunity to travel to friends and family than any year since 2007,” said Marshall L. Doney, AAA President and Chief Operating Officer. “Americans are more optimistic about the future as improvements in several key economic factors, including employment, GDP and disposable income, are boosting consumer confidence and the desire to travel.”

“Holiday joy has come early this year with Americans likely to pay the lowest Thanksgiving gas prices since 2009. Lower prices are increasing disposable income and enabling families to carve out more money from household budgets for travel this Thanksgiving,” continued Doney.

—AAA