The number of Americans expected to travel during the Labor Day weekend this year will rise 9.9 percent from 2009 as some aspects of the U.S. economy show signs of improvement, travel and auto group AAA said Wednesday.
Close to 34.4 million travelers will venture at least 50 miles away from home, compared with 31.3 million last year when the recession curbed holiday plans, AAA forecast.
About 10.3 percent more Americans will go by car this holiday weekend, while the number traveling by air will rise by 4.6 percent, AAA predicted.
The group said that while some economic indicators such as job growth have proved disappointing recently, positive signals for the U.S. economy from gross domestic product, household net worth and improved consumer confidence were prompting more Americans to take trips over the Labor Day holiday.
"While media reports on the state of the U.S. economy are mixed, many Americans are still interested in taking one more trip as the summer travel season comes to a close," said Glen MacDonell, director of AAA Travel Services.
"AAA travel agents are continuing to report strong increases in the number of travelers making advanced reservations. Hotel, car and vacation package reservations for the upcoming Labor Day weekend are up over 10 percent compared to last year," he added.
As more motorists take to the road for summer holidays, gasoline consumption in the United States rose during the driving season compared with year-ago levels. The U.S. Energy Information Administration (EIA) estimates gasoline demand for June through August 2010 will average 9.34 million bpd, compared with 9.39 million bpd on average from 2005-2009.
AAA defined the Labor Day weekend this year as falling from September 2 to 6. The group says more people decide to travel when the holiday falls earlier in September, as parents can take their children on a trip before the start of school.
AAA estimated median spending for the Labor Day holiday at $697 per household this year, $50 more than last year.
The group said the national price of gasoline will average between $2.65 and $2.75 per gallon during the holiday weekend, if there is no major tropical storm in the Gulf Coast region that could disrupt fuel supplies and send prices up.
The EIA says gasoline prices will be about $2.187 per gallon, compared with last September's prices that averaged $1.915 a gallon.
AAA expects air fares to increase by 9 percent from last year, with the lowest round-trip rates moving up to $179 for the top 40 U.S. air routes.
Weekend daily car rental rates will increase 7 percent to an average of $46 per day, it predicted.
