AAA Predicts Slight Decrease in Memorial Day Travel
Indianapolis, IN (May 15,
2008) –
For the first time since
1998, AAA projects the number of Americans traveling during
the Memorial Day holiday will drop compared to the previous
year. AAA estimates that 37.87 million Americans will travel
50 miles or more from home this holiday, a decrease of
nearly 360,000 travelers (0.9 percent) from last year’s
total of 38.23 million.
Nearly 31.7 million
Americans (83 percent of all holiday travelers) are expected
to travel by automobile, a one percent decrease from the
approximately 32 million people who drove in 2007.
Almost 4.35 million (11
percent of travelers) plan to fly this holiday weekend; a
decrease of 0.5 percent from the 4.37 million 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 from record high gasoline prices and other
factors in the economy,” said AAA Hoosier Motor Club Public
Affairs Manager Greg Seiter. “Despite the small decrease, we
will still see a significant number of people, more than 12
percent of the U.S. population, traveling during the
Memorial Day weekend.”
According to AAA’s Leisure
Travel Index, air fares over the Memorial Day holiday
weekend are expected to rise eight percent over last year as
air passengers will pay an average $179. 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 with
travelers spending an average of $162 per night. However,
travelers planning to stay at AAA 2 Diamond hotels will pay
an average of $112 per night, nine percent more than in
2007.
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, supplemented by an
additional 6,500 Americans surveyed from the top 10 states
of travel origin in the United States. Historical travel
volume and other economic data such as GDP, disposable
income, employment and travel costs such as fuel price are
also incorporated into the model. Analysis of the data and
the forecasts are produced by the Travel Industry
Association, which conducts special research for AAA.
Memorial Day Traveler Volume 2008 vs. 2007
2008
·
Projected Total Number of Memorial Day Travelers: 37.9
million (12.5% of U.S.
population)
·
Projected Number of Memorial Day Travelers by
Auto/Truck/RV: 31.7 million (10.4% of U.S.
population)
·
Projected Number of Memorial Day Travelers by Air: 4.4
million (1.4% of U.S.
population)
2007
·
Total Number of Memorial Day Travelers: 38.2
million (12.7% of U.S. population)
·
Total Number of Memorial Day Travelers by Auto/Truck/RV:
32.0 million (10.6% of U.S. population)
·
Total Number of Memorial Day Travelers by Air: 4.4
million (1.5% of U.S. population)
Note: Figures are rounded to one decimal place. The exact
percentage change may not be reflected in the volume
comparisons. Air travelers are counted only once for each
round-trip and, therefore, the estimates above are not
directly comparable to estimates of enplanements published
by the Air Transport Association.
Source: Travel Industry Association/AAA
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