More people will get away this Labor Day weekend than have in the past six years, with 34.7 million Americans expected to take to the road and skies, according to a forecast released Thursday from auto club AAA.
The number of Americans projected to travel at least 50 miles from home over the holiday weekend is 1.3% higher than last year and comes even as disposable income is forecast to barely rise. But the auto club says Americans' desire for an end-of-the summer break is apparently outweighing concerns about going into debt to pay for it.
"Consumer spending continues to outpace disposable income, indicating that Americans are comfortable using their credit cards to take one last summer vacation this year,'' Marshall Doney, AAA's chief operating officer, said in a statement.
With almost 86% of Labor Day vacationers likely to head to their destinations by car, AAA says gas should continue to be more affordable than it has been in recent summers, freeing up more cash for other parts of vacation. Gas is currently averaging $3.44 a gallon vs. $3.59 on Labor Day 2013.
The cost of renting a car over the holiday weekend hasn't budged from last year, averaging $51 a day. But other aspects of travel have ticked up, some significantly.
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