For this week’s Thanksgiving holiday weekend, AAA Travel projects 46.9 million Americans will travel 50 miles or me from home, an increase of 0.6% from the 46.6 million who traveled last year, according to the “AAA Thanksgiving 2015 Travel Forecast.”
This year is the highest projection for travel during the Thanksgiving holiday since 2007. It marks the seventh consecutive year of growth, according to AAA. The Thanksgiving holiday travel period is defined as Wednesday Nov. 25 to Sunday Nov. 29.
"This Thanksgiving, more Americans will carve out time to visit friends and family since 2007," said Marshall Doney, AAA president and CEO. "While many people remain cautious about the economy and their finances, many thankful Americans continue to put a premium on traveling to spend the holiday with loved ones."
Nearly 42 million Americans plan to travel by automobile, a 0.7% increase over last year, according to the AAA report.
When it comes to gas prices, AAA estimates that most U.S. drivers will pay the lowest Thanksgiving price for fuel since 2008. Today’s national average price for a gallon of gasoline is $2.15, 65 cents less than the average price on Thanksgiving last year ($2.80), according to AAA.
"One holiday gift has come early this year. Americans will likely pay the lowest Thanksgiving gas prices since 2008,” said Doney. “Lower prices are helping boost disposable income, and enabling families to kick off the holiday season with a Thanksgiving getaway."
According to AAA’s Leisure Travel Index, weekend daily car rental rates will average $60, an 8% increase from last Thanksgiving.
AAA’s projections are based on economic forecasting and research by IHS Global Insight, a Colorado-based business information provider.
Click here for the complete “AAA/HIS Global Insight 2015 Thanksgiving Travel Forecast.”