AAA predicts slight drop in Memorial Day travelers

AAA projects the number of Americans traveling during the Memorial Day holiday will drop compared to last year. AAA estimates that 37.9 million Americans will travel 50 miles or more from home this holiday, a decrease of nearly one percent from a year ago.

Approximately 31.7 million Americans (83 percent of all holiday travelers) are expected to travel by automobile, a one percent decrease from a year ago. Another 4.35 million (11 percent of holiday travelers) plan to fly this holiday weekend; a decrease of 0.5 percent from those who took to the skies last year. About 1.8 million intend to travel by train, bus or other mode of transportation.

“Many Americans are feeling a financial pinch this Memorial Day from record high gasoline prices and other factors in the economy,” said Martha M. Meade, Manager of Public and Government Affairs for AAA Mid-Atlantic. “Despite the small decrease, we will still see a significant number of people traveling for the holiday weekend. More than 12 percent of the U.S. population will be celebrating the Memorial Day weekend away from home.”

Across much of the country, motorists driving to their Memorial Day holiday destinations will once again encounter record-high gasoline prices. The national average for self-serve regular is $3.78 a gallon. That is 39 cents more than one month ago and 68 cents more than this time last year. Virginians are currently paying $3.69 a gallon, up 39 cents from last month and 77 cents from last year.

“Countless businesses large and small across the country depend on summer leisure travelers for a large portion of their annual revenue. This summer high gasoline prices appear to be dampening American’s intent to travel. If a trend toward higher gas prices and fewer travelers were to continue, it could eventually impact travel-dependent companies that provide employment opportunities and tax revenues in almost every city and town in America,” Meade said.

According to AAA’s Leisure Travel Index, air fares over the Memorial Day holiday weekend are expected to rise eight percent over last year. Car rental rates will climb significantly higher with consumers paying an average of $45 per day compared to $31 a year ago, an increase of 45 percent. Hotel rates for AAA 3 Diamond hotels are expected to be seven percent less than last year; however, travelers planning to stay at AAA 2 Diamond hotels will pay an average of nine percent more than a year ago.

Research for Memorial Day weekend holiday travel projections are derived from Travel Industry Association (TIA)’s Holiday Travel Forecast Model. The model was developed based on consumer travel intentions and TIA’s quarterly travel forecast data. The travel intentions data are collected through an online survey of over 2,000 U.S. adults nationwide.