A substantial majority of Americans plan to stay close to home this Memorial Day weekend.
With gas prices at their highest level since last November, it is perhaps not surprising that a substantial majority of investors do no plan to travel this Memorial Day weekend, according to a Spectrem Group survey for Millionaire Corner.
Seventy-three percent indicated they will be staying close to home. But rather than participate in Memorial Day observances, they will be using the four-day holiday to socialize, herald the coming of summer, and get started on yardwork.
Roughly six-in-ten respondents said they will be sharing the Memorial Day weekend with family and/or friends, while nearly four-in-ten (37 percent) said they will be firing up the grill for a BBQ. Nineteen percent said they will be working on their lawns.
Less than 10 percent will place flowers on a memorial site (8 percent), attend some type of Memorial Day observance (7 percent) or attend a parade (6 percent) or fireworks display (4 percent). A mere four percent said they will be working over the three-day holiday.
One-fourth of respondents (26 percent) said they anticipate not doing anything in particular.
Millennials and Gen Xers are most likely to be out and about this Memorial Day weekend, the Spectrem Group survey finds. Four-in-ten (compared with 31 percent of Baby Boomers and 22 percent of those 61 and up) said they do plan to travel over Memorial Day. The highest percentage of respondents who said they will be sharing the time with family or friends (78 percent) or attending a BBQ (50 percent) were those under the age of 40.
Of those who indicated they will not be traveling over the Memorial Day weekend, one-third said they prefer to stay close to home, while 29 percent indicated they have a summer trip planned instead. Ten percent said they had nowhere to go and that the weekend was too short a time span to travel.
But someone will be doing it. AAA’s 2015 Memorial Day Travel Forecast says an unprecedented 37.2 million Americans will travel at least 50 miles from home between May 21 and 25, a nearly 5 percent increase over last year.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.