The number of Americans traveling for the U.S. Thanksgiving holiday this year is expected to rise 11.4 percent from 2009 thanks to an improved economy, travel and auto group AAA said on Tuesday.
Close to 42.2 million travelers will venture at least 50 miles from home, up from the 37.9 million Americans who did so last Thanksgiving.
The projected rise stems from an increase in gross domestic product, real disposable personal income and household net worth, combined with a decrease in consumer debt, AAA said.
About 12 percent more Americans will take to the roads this year; those flying will rise by 3.5 percent, the group said.
Although the increase in travelers is significant compared to last year's negligible 0.2 percent growth, the 4.3 million new travelers are fewer than half the number that decided to stay put from 2007 to 2009.
"The numbers confirm signs of strengthening in the transportation sector that correspond with improvements in retail sales," said Antoine Halff, first vice-president of research at Newedge Group in New York.
"But the recovery is still fragile and a bit tentative. High unemployment and the soft housing market will continue to weigh on user demand."
AAA estimated travelers' median spending this Thanksgiving would be $495, roughly the same as last year. Thanksgiving is less expensive than other travel holidays because the focus is on shared family meals, it said.
The group expects the national average price of gasoline to be between $2.85 and $2.95 a gallon over Thanksgiving this year. Air fares will increase by 4 percent, with the average lowest round-trip rate pegged at $176.
For AAA's purposes, the holiday runs from November 24 to November 28.
