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The Key Takeaways
- According to AAA and TSA estimates, this Thanksgiving could be a record-breaking travel day.
- TSA predicts that more than 18,000,000 people will go through airport security checkpoints. AAA anticipates 80 million people traveling more than 50 miles in the week leading up to the holiday.
- While air travel costs are on the rise, gas prices have been lower.
If you're planning to travel this Thanksgiving, plan on long lines and traffic jams.
Transportation Security Administration and American Automobile Association estimates indicate that the season will set new travel records.
AAA predicts that just under 80 million people will drive more than 50 miles during the holiday, from Tuesday to Dec. 2, which is the Monday after the holiday. It would be more travel by car, air and other means than last year during the same time frame, and it would also surpass the levels seen before the pandemic in 2019.
TSA announced this week it expected at least 18,3 millions people to be screened in TSA checkpoints located at airports all across the nation. TSA stated that Dec. 1, which is the Sunday after Thanksgiving, will likely break the record set on July 7, Sunday following Independence Day.
Airfares more expensive this year, despite gas prices being lower.
Gas prices may be reduced to offer relief to drivers.
As the AAA national gas average hovered around $3.06/gallon on Friday, the record travel predictions for Thanksgiving come at a time when the price of gasoline has dropped over the past year. The average price of regular gas on this date last year was higher by more than 20 cents per gallon, at $3.28.
According to travel website Hopper at the end of October, the average price of flights around Thanksgiving was around $273. This is ahead of an expected 50% increase in prices closer to the holiday. At the end of last month, the average airfare was 9% higher than the same period in the previous year. However, it was still below the 2022 levels and the pre-pandemic prices.
The travel industry and airlines have stated that demand for travel has been strong this year, despite inflation impacting other areas of discretionary expenditure. This is because Americans prioritize spending on necessities while being willing to spend on experiences such as travel.
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