Over 5 Million More Travelers Than Prior Memorial Day Weekend
According to AAA, over 43 million Americans will travel this July 4th weekend. This represents the highest Independence Day weekend travel volume on record and five million more travelers compared to Memorial Day weekend. The holiday travel period is defined as Thursday, June 30 to Monday, July 4, 2016.
"Spurred by the lowest gas prices since 2005, more people than ever are planning to travel this Independence Day weekend," said Marshall Doney, AAA President and CEO. "Whether they're traveling by car, plane, train, or cruise ship, it will be exciting to see so many Americans celebrating our nation's freedom with their friends and family over the long holiday weekend."
U.S. drivers have saved about $20 billion on gasoline so far this year compared to the same period in 2015, which has made travel more affordable than in recent years. A more confident consumer and rising economic activity also are offsetting a cooling labor market to help boost holiday travel.
"We are well on our way for 2016 to be a record-breaking year for summertime travel," continued Doney. "This trend is welcome news for the travel industry and a sign that Americans are taking to our nation's highways and skies like never before."
Low gas prices driving increase in auto travel this Independence Day
Eighty-four percent of holiday travelers - more than 36 million people - will drive to their Independence Day destinations, an increase of 1.2 percent over last year. Air travel is expected to increase 2.2 percent over last year, with 3.3 million Americans taking to the skies this Independence Day.
Travel by other modes of transportation, including cruises, trains and buses, will increase two percent to 3.3 million travelers. Most of those travelers are expected to fill cruise cabins and AAA's holiday cruise bookings are 35 percent higher than last Independence Day.
Drivers to pay lowest Independence Day gas prices in more than a decade
Low gas prices are motivating millions of Americans to travel this Independence Day. Despite recent seasonal increases, gasoline prices remain well below recent years. The national average price for a gallon of gasoline is $2.31, which is 47 cents less than one year ago. AAA expects most U.S. drivers will pay the lowest Independence Day gas prices since 2005.
Airfares and hotel rates lower than last Independence Day
According to AAA's Leisure Travel Index, average airfares for the top 40 domestic flight routes will be nine percent less this Independence Day, with an average roundtrip ticket costing $207. Hotel costs have fallen slightly compared to last Independence Day. AAA Three Diamond Rated hotels will average $185, while a AAA Two Diamond Rated hotel will average $144 nightly. Daily car rental rates will average $75, six percent more than last year.