The Memorial Day holiday is just a few weeks away and AAA said there should be an increase in the number of people who travel this year for the holiday as opposed to last year. However, that rate is not expected to be too much higher.
The Memorial Day weekend is usually a good indicator as to how the summer travel season will be. An estimated 35 million Americans are expected to travel at least 50 miles from home during the upcoming three-day weekend. That is an increase of about half a million travelers over last year. Close to 88% of the travelers will drive.
The price of gasoline of late has fallen, but not enough to entice more travelers to take to the road for their summer holiday. Too many Americans are still worried about the economy and their jobs. Experts in tourism and the economy expect a small increase in the number of overall summer travelers. The high price of gasoline and the large debt that many people still have will cause some travelers to stay close to home or not travel at all.
Those people who decide to travel during the summer will look to save money. The majority of those taking to the road will make their trips shorter and will cut back on both entertainment and food to conserve their cash.
Most people feel comfortable traveling only when they feel secure, and cash gives them security. Therefore, if they are not completely secure about their future or the future of the economy, they might be less willing to travel far or at all.