More people will get away this Labor Day weekend than have in the past six years, with 34.7 million Americans expected to take to the road and skies, according to a forecast released Thursday from auto club AAA.
The number of Americans projected to travel at least 50 miles from home over the holiday weekend is 1.3% higher than last year and comes even as disposable income is forecast to barely rise. But the auto club says Americans' desire for an end-of-the summer break is apparently outweighing concerns about going into debt to pay for it.
With almost 86% of Labor Day vacationers likely to head to their destinations by car, AAA says gas should continue to be more affordable than it has been in recent summers, freeing up more cash for other parts of vacation. Gas is currently averaging $3.44 a gallon vs. $3.59 on Labor Day 2013.
Among those flocking to airports, the lobbying group Airlines for America said today that it expects a 2 percent increase in air travelers, to 14 million over the six days around Labor Day, with the busiest day Friday, Aug. 29. AAA said airfares are 2 percent higher than in 2013, while rental vehicle rates have remained flat at $51 per day.
But travelers needing to stay in a hotel may see a far steeper jump in the cost of a room as compared to 2013. Hotels that have a two out of five diamond ranking from AAA are 9% more expensive, costing on average $125 per day. Three-diamond hotels are costing on average 6% more than they did in 2013.
AAA defined the Labor Day holiday weekend as extending from Thursday, Aug. 28 to Monday, Sept. 1.
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