Wednesday, November 24, 2010
Improved economic conditions will boost Thanksgiving travel by more than 11 percent, according to the AAA, with approximately 42.2 million travelers taking a trip at least 50 miles away from home.
Last year, 37.9 million Americans traveled during the Thanksgiving holiday.
AAA said this yearâ€™s projected increase in holiday travel appears to be the result of modestly improved economic conditions since last year, including an increase in gross domestic product, real disposable personal income and household net worth combined with a decrease in consumer debt.
While job growth has been minimal and unemployment remains high, the unemployment rate has remained stable, an improvement from 2008 and 2009 when job losses were mounting each quarter.
AAA expects some 39.7 million motorists to hit the road this Thanksgiving, a 12 percent increase on last year. Another 1.62 million are expected to travel by air, up 3.5 percent from last yearâ€™s 1.57 million flyers, while another two percent are expected to travel by other modes of transportation such as rail and bus.
If you’re renting a carÂ for theÂ Thanksgiving holiday, check out theÂ I.I.I. podcast on rental carÂ insurance.
Have a safe and happy Thanksgiving!