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Roughly 50.9 million Americans will journey 50 miles (80 km) or
more away from home Nov. 22-26, a 3.3 percent increase over last
year and the most since 2005, Heathrow, Florida-based AAA said
in a report released on Thursday.
“A strong economy and labor market are generating rising incomes
and higher consumer confidence, fueling a strong year for the
travel industry, which will continue into the holiday season,"
Bill Sutherland, AAA senior vice president, said.
The largest share of travel, roughly 89 percent, will be on U.S.
roads.
U.S. motorists will take 45.5 million trips this holiday, a 1.5
percent increase over last year and also the most since 2005,
even though gas prices are at their highest since 2014, AAA
said.
Air travel is expected to grow by 5 percent to 3.95 million
trips, buoyed by the cheapest tickets since 2013, AAA said.
It is the sixth consecutive year air travel has grown during the
holiday, and now accounts now for 7.8 percent of all travel, its
highest share since 2010, AAA said.
U.S. motor travel accounts for 10 percent of global demand, and
is closely watched by global oil traders.
Overall, motorists are on pace this year to break the record for
most vehicle miles driven on U.S. roads, helping spur potential
record demand for gasoline.
U.S. gasoline demand and vehicle miles traveled both set records
in 2016.
Gas prices jumped more than 10 percent after hurricanes Harvey
and Irma, peaking on Sept. 8 at an average of $2.67 a gallon.
Prices were at $2.56 a gallon on Wednesday, about 10 percent
above last year, AAA said.
(Reporting by Jarrett Renshaw in New York; Editing by Lisa
Shumaker)
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