Summer Travel Boom: Record Numbers Expected as Gas Prices Drop and Economy Thrives
Money | July 3, 2024, 2:24 p.m.
This year's July 4 holiday will see a record-breaking 71 million travelers hitting the roads and skies, surpassing pre-pandemic levels. With remote work flexibility and summer vacations in full swing, AAA predicts an additional 5.7 million people will be traveling compared to 2019. Car travel is expected to increase by 5%, with gas prices slightly lower than last year. Additionally, air travel is projected to hit a new record, with 5.74 million people flying to their destinations, and domestic airfare being 2% cheaper than in 2023. TSA screening data reflects the surge in travel, setting daily records of over 2.9 million flyers processed. Despite a slowing economy, spending on travel and services continues to show solid growth, indicating a positive trend in the travel industry.