Memorial Day travel hits highest peak in over a decade
From AAA
AAA projects 2.08 million Floridians are preparing to travel 50 miles or more this weekend for Memorial Day, an increase of 66,169 people (3.3%) from last year. Nationwide, 39.3 million Americans are expected to travel, marking the third consecutive year of growth and the largest Memorial Day travel volume in 12 years.
“The expected spike in Memorial Day travel mirrors the positive growth seen throughout the travel industry this year,” said Vicky Evans, Assistant Vice President, Travel Sales Development, AAA - The Auto Club Group. “So far in 2017, travel bookings with AAA in Florida are up 17 percent, compared to the same period last year. Higher confidence, rising wages, and recent gas price declines have bolstered consumer spending, leaving many Americans with more money to spend on travel this Memorial Day.”
The Memorial Day holiday travel period is defined as Thursday, May 25 to Monday, May 29. The busiest travel days are expected to be Thursday, Friday and Monday, as many Americans enjoy an extended weekend.
By the Numbers:
2017 will mark the third consecutive year of growth in Memorial Day travel with 2.7 percent more travelers than last year.
Travel volumes for all modes of transportation are forecast to be the highest since 2005.
34.6 million Americans (88.1 percent of travelers) will drive to their destinations, an increase of 2.5 percent over last year.
2.9 million Americans will fly, increasing air travel by 5.5 percent over last year.
1.75 million travelers - an increase 3.2 percent from 2016 - will take other modes of transportation, including cruises, trains and buses.
Motorists will find the highest Memorial Day gas prices in two years.
Florida gas prices are rising after declining for 31 consecutive days. Florida's state average of $2.31 is 6 cents more than what motorists paid on Memorial Day 2016.
Airfares, car rental rates and mid-range hotels are all trending higher than last Memorial Day.
| Memorial Day
Travel Volumes |
Total |
Auto |
Air |
Other |
Gas Prices
(Memorial Day 2016) |
| National |
37.3 million (+2.7%) |
34.6 million (+2.4%) |
2.9 million (+5.5%) |
1.8 million (+2.9%) |
$2.32/g |
| Florida |
2.08 million (+3.3%) |
1.86 million (+3.1%) |
163,281 (+6.5%) |
60,706 (+0.7%) |
$2.25/g |
| Percentages are comparisons to Memorial Day 2016 Travel Volume |
Gas Prices on the Rise; Will Remain Slightly Higher Than Last Year
Motorists will find the highest Memorial Day gas prices in two years
On Memorial Day 2016, gas prices averaged $2.32 nationwide and $2.25 in Florida.
At press time on Wednesday, May 24, gas prices averaged $2.37 nationwide and $2.31 in Florida.
Click here for today's gas price averages near you.
Even if gas prices stay above last year's levels, they should remain well below the prices seen on Memorial Day 2015.
The cost to fill an average-size tank of gas with regular unleaded fuel in Florida is $34.65 - $1 more than last year's holiday.
Florida's average price rose on Monday, snapping a 31-day streak of declines for a total discount of 16 cents.
Despite slightly higher gas prices this year, the vast majority of travelers (88.1 percent) are planning to hit the road for the holiday weekend.
Automobile travel will grow by 2.5 percent this Memorial Day, with 34.6 million Americans planning a holiday road trip - the most in 12 years.
"Gas prices are now rising alongside oil prices, due to another week of declining crude oil and gasoline stocks, and rising demand," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Fuel prices should follow an upward path through the rest of the week, the rate of which will depend on the outcome of today's OPEC meeting on production cuts. Regardless, gas prices should not fluctuate to levels that would cause Americans to alter their holiday travel plans."
Large Increases in Flying and Travel by Other Modes this Memorial Day
While road trips continue to reign supreme for Memorial Day, more Americans will fly, ride the train or bus, or take a cruise vacation compared to last year.
The share for air travel will record the largest year-over-year growth among all transportation modes, climbing 5.7 percent from 2016.
This marks the fourth consecutive year of holiday air travel growth, due to Americans' increased confidence in spending their rising incomes on taking a flight, which tends to be a more expensive mode of travel compared to auto, train or bus.
2.9 million Americans will fly to their destination - an increase of 152,000 from last year.
Travel by other modes of transportation, including cruises, trains and buses, will increase 3.2 percent, to 1.75 million travelers.
Airfares, Hotel and Car Rental Rates on the Rise
According to AAA’s Leisure Travel Index, average airfares for the top 40 domestic flight routes will be 9 percent higher this Memorial Day, with an average round trip ticket landing at $181.
Hotel costs have also increased since last Memorial Day, with the average AAA Three Diamond Rated hotel costing $215, or 18 percent more than last year.
More Americans Plan to Rent Cars for their Holiday Road Trips this Year
AAA’s car rental bookings are 19 percent higher than last Memorial Day.
According to Hertz, the busiest day for car rental pick-ups is expected to be Friday, May 26, based on last year’s data.
Daily car rental rates will average $66, which is 7 percent more than last year.
|
TOP DESTINATIONS FOR MEMORIAL DAY WEEKEND
(Based on AAA travel bookings)
|
BUSIEST AIRPORT PICK-UP LOCATIONS FOR RENTAL CARS
(According to HERTZ data from 2016)
|
|
Orlando, Florida
Rome, Italy
London, England
Dublin, Ireland
Vancouver, Canada
Seattle, Washington
Las Vegas, Nevada
New York, New York
Paris, France
Honolulu, Hawaii
|
Los Angeles (LAX)
San Francisco (SFO)
Orlando (MCO)
Atlanta (ATL)
Denver (DEN)
|
Many Memorial Day Vacationers Traveling Abroad this Year
While the vast majority of travelers are planning a Memorial Day road trip, many other Americans will take an extended vacation and travel internationally.
Europe is among the most popular vacations booked with AAA this year. Multiple European countries landed on our top 10 due to pent-up demand and continued favorable exchange rates.
