With the ongoing uncertainty about the strength of the economy and the return of higher gas prices, the folks over at the American Automobile Association predict that people will stay home during the Fourth of July weekend. Armed by research conducted by IHS Global Insight, the AAA's Leisure Travel Index suggests a two percent decline in travel, dropping from 37.8 to 37.1 million compared to the number of Americans who traveled 50 miles or more from home during the summer holiday season in 2008.
While fewer people are expected to leave home this weekend, the airline industry is preparing for a 4.9 increase in bookings compared to air traffic this time last year.
The AAA cites the recent spike in gas prices and plummeting airfare as a motivating factor inspiring travelers to ditch their car and travel by plane.
“Many Americans remain cautious about the outlook for their personal finances and these attitudes are reflected in the slight decline in travel we are forecasting for the upcoming holiday weekend," says Robert L. Darbelnet, AAA President & CEO.
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