Gas and airfare prices have jumped. Americans are traveling this weekend anyway
CNN • • general
Key Points:
- A record 45 million Americans are expected to travel at least 50 miles this holiday weekend, surpassing last year's record of 44.8 million, despite significantly higher gas and airfare costs.
- Airfares have increased by over 20% compared to last year, and gas prices averaged $4.55 per gallon, up $1.38 from last year and 53% since the start of the Iran war.
- Experts note that while many express concern about rising travel costs, actual travel behavior remains strong, particularly among higher-income individuals who account for more than half of leisure hotel spending.
- Some travelers are adjusting their plans to save money by skipping hotel stays, staying with family or friends, shortening trips, or choosing more affordable destinations.
- Personal stories highlight travelers prioritizing family events and social connections despite costs, often finding creative ways to manage expenses, such as driving long distances without overnight stops or using airline miles.