The U.S. economy is still sluggish and the consumer remains cautious. Yet between Saturday, December 21, and Wednesday, January 1, almost a third of Americans plan to hit the road, according to AAA. That would mark the fifth consecutive year of increased holiday and year-end travel, as well as the highest travel volume recorded for the season.
The 2013/2014 AAA Year-End Holidays Travel Forecast includes the following highlights:
- Holiday travel to total 94.5 million, an increase of 0.6 percent from the 94 million who traveled last year.
- Year-end holiday travel is expected to increase for the fifth consecutive year, reaching a new high since data has been collected by AAA.
- Ninety-one percent of travelers or 85.8 million to travel by automobile, an increase of 0.9 percent.
- Nearly 30 percent (29.7) of all Americans will take a trip this holiday, with more than one in four (27 percent) taking a road trip.
- Holiday air travel is expected to decline slightly to 5.53 million travelers from 5.61 last year.
- Median spending expected to increase slightly to $765, compared to $759 last year.
The calendar also is likely to help spur an increase in holiday travel this year. When the holidays fall on a Wednesday, travelers have more flexibility with their travel plans. They often can begin their trip earlier or extend it through the following weekend.
“Of all the travel holidays, the year-end holiday season remains the least volatile as Americans will not let economic conditions dictate their travel plans to celebrate the holidays,” said AAA Chief Operating Officer Marshall L. Doney. “While economic growth has stagnated and consumer confidence has fallen Americans will not be Scrooges when it comes to traveling this year.”
Are You Still Paying With a Debit Card?
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.