AAA Travel projects 34.7 million Americans will journey 50 miles or more from home during the Labor Day holiday weekend, the highest volume for the holiday since 2008 and a 1.3 percent increase compared to 2013.
Nearly 86 percent of travelers or 29.7 million will celebrate the holiday with a final road trip before summer comes to a close. The Labor Day holiday travel period is defined as Thursday through Monday.
“Labor Day travel is forecast to finish the summer with a bang,” said Mark Jenkins, spokesman for AAA – the Auto Club Group. “Gas prices are down and consumer spending is up, which should help generate the most travelers for the Labor Day holiday since the record setting 45 million in 2008.”
Highlights from the 2014 Labor Day travel forecast include:
• Historically, when Labor Day weekend begins in August, Americans have shown a higher tendency to travel.
• Consumer spending has surpassed income growth, indicating that Americans are willing to take on debt to finance a vacation.
• Automobile travel will increase by 1.4 percent this year, with 29.7 million travelers hitting the road.
• Nearly 8 percent of travelers or 2.65 million will travel by air, a 1 percent increase from last year.
• Travelers will encounter airfares just 2 percent higher than last year and daily car rental costs that remain consistent at $51.
• Hotel rates at AAA two diamond hotels are 9 percent higher than last year and three diamond hotels are 6 percent more.