Improving economy, lower gas prices drive up holiday traffic
Published 10:34 am Wednesday, November 26, 2014
For those staying in Vicksburg this Thanksgiving holiday, try to avoid getting on I-20 over the coming days.
In their annual estimate of those traveling over the extended holiday weekend, AAA-Mississippi projects that more than 46 million Americans will travel more than 50 miles during the weekend; the highest expected volume for the holiday since 2007.
AAA reports the improving economy and much lower fuel prices are factors driving (no pun intended) the increase in travelers.
In regards to fuel costs, the national average Monday was $2.81 per gallon, which is 47 cents lower than the average price for Thanksgiving a year ago.
In the Jackson metro area, the closest area tracked by AAA, the average price per gallon was $2.53, more than 53 cents lower than last year.
AAA also cites a boost in consumer confidence and an improving economy as key factors in the increase in travel this holiday. Lower fuel prices though are no doubt are also enabling families to carve out more money from household budgets for travel this Thanksgiving.
AAA expects travelers are expected to spend an average of $573 over the course of their holiday travels. Despite lower average gas prices, travelers are allocating 31 percent of their budgets to fuel transportation. Food and beverage and shopping will account for 22 percent and 20 percent of holiday travel budgets, respectively.
Travelers’ spending plans mirror their intended activities this Thanksgiving, with 70 percent of travelers reporting they will enjoy dining during their vacation and 59 percent will go shopping.