According to AAA, 35.5 million Americans are going to send summer packing by taking one last vacation of at least 50 miles over the holiday weekend.
Are you ready for the autumn?
According to AAA, 35.5 million Americans are going to send summer packing by taking one last vacation of at least 50 miles over the holiday weekend. This is the highest Labor Day travel volume since 2008 and a one percent increase over last year.
While the majority of travelers (30.4 million, or 86 percent of all travelers) will be taking a road trip as the sun sets on the summer season, air travel is also projected to lift 1.5 percent this holiday weekend. Over 2.6 million travelers are expected to travel by air, making this the largest volume of air travel since 2007.
The Labor Day holiday travel period is defined as Thursday, September 3 to Monday, September 7.
This year’s Labor Day travel forecast may have been dampened by its placed on the calendar, AAA notes. September 7 is the latest day possible it can occur, and historically, the later it falls, the less inclined Americans are to travel.
This certainly appears to be the case with Affluent households. In a new survey conducted by Spectrem Group for Millionaire Corner, three-fourths of Affluent respondents indicated they will not be traveling this Labor Day holiday weekend.
This is pretty much typical. The affluent aren’t exactly the life of the party, according to previous Millionaire Corner surveys. On New Year’s Eve, for example, the highest percentage of Millionaires surveyed allowed that they are most likely to stay home and turn in early rather than go out to a party. Where do they watch the Super Bowl? Seven-in-ten said they watch the Big Game at home, while a mere six percent said they host their own party or watch with family. Two-thirds of Affluent households do not play practical jokes on April Fool’s Day.
Perhaps the Affluent are vacationed out from the summer. Wealth is not a factor in who will vacation and who will stay home. An equal percentage of those with a net worth of less than $100,000 and those with at least $5 million (26 percent and 27 percent, respectively) report they will be traveling this holiday weekend.
Labor Day getaways are apparently a young person’s game. Among those who will travel, according to the Millionaire Corner survey, the highest percentage is either under 40 or between 41-50 (four-in-ten). Only 28 percent of Baby Boomers and 23 percent of those ages 61 and up indicated they will be traveling this holiday weekend.
Just as AAA forecast, a substantial majority of Affluent vacationers will be traveling by car (66 percent).
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.