An extra three million Americans are expected to travel this Memorial Day Weekend compared to last year. And travel is expensive now: - Airfares are up 28% compared to 2019 - The national average for a gallon of gas is about $4.52, up from $3.04 last year.
Record gas prices are fueling the melt of consumers’ wallets. Decades-high inflation for just about everything else is keeping up the heat too. What’s more, somewhere, somehow a recession might be lurking, according to some economic prognosticators.
Overall, 39.2 million travelers will be taking to the roads and skies, according to AAA estimates. That’s an 8.3% increase from the 36.2 million travelers who set out to see friends and family in the first Memorial Day Weekend after COVID-19 vaccines became widely available. AAA is estimating 3 million people will fly over the weekend, up from the 2.4 million who flew in the weekend last year, but down from the 3.2 million flying passengers in 2019.
The 2022 Memorial Day Weekend projections underscore consumers’ willingness to travel — and spend — despite all the head winds.
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