Are you one of the 42.5 million Americans expected to travel more than 50 miles from home this Thanksgiving? If so, you’ll be in good company.
According to the AAA, the number of Thanksgiving travelers is projected to be up 4 percent from the 40.9 million people who traveled a year ago.
This is the first significant increase in holiday travel this year, as travel was flat over Memorial Day weekend and decreased during both Independence Day and Labor Day.
AAA says the projected increase reflects pent-up demand from Americans who may have foregone holiday travel the last three years due to economic conditions:
As consumers weigh the fear of economic uncertainty and the desire to create lasting family memories this holiday, more Americans are expected to choose family and friends over frugality.Ã¢â‚¬
Given that about 90 percent of those holiday travelers (38.2 million people) are expected to be on the road, the highways will be busy. If you happen to be renting a car for your travels, check out tips from the I.I.I. on how to ensure you are properly covered.
To all our readers we wish you safe travels and a Happy Thanksgiving.
Some 38.4 million Americans will travel 50 miles or more from home over the Thanksgiving holiday weekend, up 1.4 percent over last year when 37.8 million traveled, according to the AAA. This yearÃ¢â‚¬â„¢s expected increase in travel reflects improved customer confidence from one year ago, better financial market performance and a growing sense among many consumers that the worst of the global economic crisis is behind us, AAA said. In 2008 Thanksgiving travel dropped a precipitous 25.2 percent in the wake of the ongoing housing and financial crisis. Some 33.2 million motorists are expected to hit the road this Thanksgiving, a 2.1 percent increase on last year. Another 2.3 million plan to travel by air, a decline of 6.7 percent, while the number traveling by train, bus or other transportation is expected to increase by 1.2 percent to 2.9 million. According to AAAÃ¢â‚¬â„¢s Leisure Travel Index (LTI), Thanksgiving holiday travelers will pay less for airfares and car rentals this year. On average, car rental rates are down three percent to an average of $44 per day for a mid-size car versus $45 per day last year. To help consumers better understand car rental insurance, I.I.I. has created a podcast outlining the coverages offered in most policies. The podcast is available on iTunes and the I.I.I. Web site at Podcast: Rental Car Insurance. Have a safe and happy Thanksgiving!