Because of the improving economy and the lower gasoline prices, more Americans will travel over Thanksgiving holiday.
46.3 million Travellers will reportedly take trips of over 49 miles, with majority of those on Nov. 27, Thanksgiving holiday, the most amount of travellers reported since 2007,a dn a 4.2 increase from last year, according to AAA, a motor club and leisure travel organization based in North America.
90 percent of travellers will take the land route and will drive, taking advantage of the cheapest gasoline prices in America since 2010, the Heathrow-Florida-based ggroup reported.
AAA projected that 41.3 million people will drive, making up over 89 percent of total travellers, up by 4.3 percent from 2013. It would be the most people on the roads for Thanksgiving since 2007 and the third-most since at least 2000.
The increase in the number of travellers these holidays means that Americans are benefiting from the increase in oil production that led to a global surplus, which drove down the price of crude oil to almost $30 a barrel, or even lower, and gasoline by over 80 cents per gallon.
Now, Americans have more disposable income to be used for other things, in this case, travel and leisure, according to consulting group HIS Inc.
"Americans are more optimistic about the future as improvements in several key economic factors, including employment, GDP and disposable income, are boosting consumer confidence and the desire to travel," said Marshall Doney, AAA president and chief operating officer.
Sliding gasoline prices "are increasing disposable income and enabling families to carve out more money from household budgets for travel."
However, Travel expenses will rise as expenses have increased. Hotel rates are now 8 percent higher than last year. Aside from that, car rentals are 10 percent costlier than last year's. Airfare will also be more expensive this year.
