News for November 18
| AAA Projects Thanksgiving Travel to Increase: New England To Have The Highest Rate Of Recovery (posted by Public Affairs on November 18 @ 11:32 ) |
| An estimated 38.4 million Americans will be traveling 50 miles or more from home over the Thanksgiving holiday weekend, a 1.4 percent increase over last year when 37.8 million traveled, according to AAA Southern New England. Much of the increased travel is projected to come from the New England states, which are expected to show an overall increase of 8.8 percent over 2008. New England is also projected to lead the country in the increase in travel specifically by auto, 9.6 percent over last year. Last year, Thanksgiving travel fell 25 percent from 2007 in the wake of the ongoing housing and financial crisis. This year’s expected increase in travel reflects improved consumer confidence from one year ago, better financial market performance and a growing sense among many consumers that the worst of the global economic crisis is behind us, AAA said. “Although far too many Americans remain unemployed or under financial stress, the projected increase in Thanksgiving travel from one year ago is another hopeful sign that economic conditions are stabilizing and improving in some areas. We can also be thankful the gradual recovery we have been seeing in the U.S. travel industry since the start of the summer is continuing,” said AAA’s Lloyd P. Albert, Senior Vice President of Public / Government Affairs. Eighty-six percent of Thanksgiving vacationers are expected to travel by automobile, while only six percent say they will go by air. This year’s decrease in the number of air travelers continues a decade-long trend in which air travel as a percentage of total Thanksgiving travel has declined substantially – down 62 percent since 2000. The remaining eight percent of this year’s travelers will go by trains, bus, boats or other means – an increase of 1.2 percent from last year. AAA’s projections are based on research conducted by IHS Global Insight, a Lexington, MA-based economic research and consulting firm. For purposes of the forecast the Thanksgiving holiday travel period is defined as trips of 50 miles or more from home from November 25-29. The complete AAA/IHS Global Insight 2009 Thanksgiving holiday forecast can be found at www.aaa.com/news. Thanksgiving travelers from New England expect to spend approximately $457 per household this upcoming holiday weekend. With the main purpose of Thanksgiving being a special meal with family and friends, it’s not surprising that only a small percentage of the money spent will be on accommodations. Food and beverages and shopping will account for most of the spending. New England’s Thanksgiving travelers will journey an average of 387 roundtrip miles during the holiday weekend, with close to 40 percent traveling just 50-150 miles. |
| AAA Projects Slight Decline In Travel Over Thanksgiving For The First Time Since 2002 (posted by Public Affairs on November 18 @ 10:28 ) |
| AAA is forecasting a small decline in the number of Americans traveling during the Thanksgiving holiday weekend. According to AAA Southern New England, approximately 41 million Americans will travel 50 miles or more from home Thanksgiving weekend, a decrease of 1.4 percent (600,000 travelers) from last year’s total of 41.6 million. This is the first decline in Thanksgiving holiday travel since 2002 and the fourth consecutive travel holiday this year (after Memorial Day, Fourth of July, and Labor Day) with a year-to-year decline in the number of travelers. “The overall state of the economy continues to present real challenges for some Americans looking to travel this Thanksgiving,” said Lloyd P. Albert, AAA Southern New England Senior Vice President of Public and Government Affairs and New Business Development. “However, the desire to spend time with family, combined with significantly lower gasoline prices than earlier this year, will provide a strong impetus for many Americans to travel this holiday season.” More than 33.2 million Americans (81 percent of all holiday travelers) expect to travel by automobile, a 1.2 percent decrease from the 33.6 million who drove a year ago. Nearly 4.54 million (11 percent of all holiday travelers) plan to travel by airplane, a 7.2 percent decrease from the 4.89 million that flew last year. And another 3.26 million (eight percent) intend to travel by train, bus or other mode of transportation, up 5.8 percent over last year. AAA estimates that air passengers can expect airfares eight percent higher than last year, while car rental prices are expected to be four percent higher. Travelers may find more bargains when looking for a place to stay, as average rates for AAA Three Diamond hotels are down an average of 10 percent compared to last year. The northeast region of the United States is projected to see decreases that are less than the national averages: a 0.1% decrease in travel by car, and 0.9% decrease in overall travel. AAA’s Thanksgiving travel projections are computed by the Travel Industry Association, which conducts special research for AAA. AAA Southern New England is a not-for-profit auto club with 34 offices in Rhode Island and Massachusetts, providing more than 2 million local AAA members with travel, insurance, finance, and auto-related services. |