Inflation has been persistent for several years, but it has not stopped Americans from traveling. During the upcoming Memorial Day weekend, Americans traveling for vacation may once again experience record-breaking levels of traffic.
The American Automobile Association (AAA) predicts that this will be the busiest early summer weekend in nearly 20 years, with an estimated 43.8 million people expected to travel from Thursday (May 23) to next Monday. The Transportation Security Administration (TSA) stated that as many as 3 million people passed through airport security just on Friday alone.
US airlines are expecting a record number of passengers this summer. Industry estimates suggest that between June 1 and August 31, there will be 271 million air travelers, surpassing last summer’s record of 255 million.
With Memorial Day approaching, the sharp rise in ticket prices seen over the past two years has started to ease, and even decline.
According to government data released last week, compared to the same period last year, airline ticket prices have dropped by 6%, hotel prices by 0.4%, and car or truck rental prices by 10%. AAA reports that the national average gas price is around $3.60 per gallon, up about 6 cents from a year ago.
Johannes Thomas, CEO of hotel and travel search company Trivago, stated that more customers are feeling the pressure of prices. While prices have stabilized, they are still much higher than pre-pandemic levels. Customers are booking earlier, staying closer to home, shortening their trips, and compromising on accommodations – switching from five-star hotels to three-star ones.
Catey Schast, a nanny and piano teacher from Maine, paid $386 for a round-trip flight from Boston to Dallas, compared to $200 to $300 for past trips to Texas.
Schast plans to vacation on the beaches of Florida in July. She said, “If I really want to go somewhere, as long as I have time off, I lean towards ‘how can I make this happen’ rather than being deterred by high prices.”
According to AAA, like in previous years, the majority of vacationers are expected to travel by car, with over 38 million people hitting the road.
AAA spokesperson Aixa Diaz said, “Since the pandemic, we haven’t seen any decline in travel numbers. Year after year, we see these figures continue to rise.”
Diaz added, “We don’t know when it will stop. There are currently no signs of that happening.”
For drivers looking to avoid the heaviest traffic congestion, AAA recommends leaving metropolitan areas early on Thursday and Friday, and avoiding the roads from 3 pm to 7 pm on Sunday and Monday.
Airports are also experiencing their own challenges. The number of people passing through security on Thursday increased by 3.2%. TSA reported that 2.85 million people were screened on Friday, with similar numbers on Sunday. These were the two busiest days so far this year.
TSA anticipates checking over 18 million passengers and airline crew members in a 7-day period starting Thursday, a 6.4% increase from last year. Friday is expected to be the busiest day for air travel, with nearly 3 million people passing through security. The current record was set last Thanksgiving weekend with 2.91 million travelers.
“This summer, we will surpass those records,” said TSA Administrator David Pekoske.
Airlines have increased staff due to the rebound in travel since the spring and summer of 2022 when COVID-19 hit. For the seasonal peak, airlines have enhanced personnel and technology deployment.
“This will be a long summer, but we are prepared,” said David Seymour, Chief Operating Officer of American Airlines. “We have the right resources.”
American Airlines has launched its most ambitious summer flight schedule ever, offering 690,000 flights from May 17 to September 3.
United Airlines expects the largest Memorial Day weekend travel ever, with a nearly 10% increase in passengers from last year. Delta Air Lines projects a 5% increase in passenger numbers this weekend, launching its busiest summer international flight schedule.
According to AAA data, Americans are heading to familiar top destinations both domestically and internationally, including Orlando, Las Vegas, London, Paris, and Rome.
A February survey by The Associated Press showed that 54% of people felt their personal financial situation was good, but only 30% held the same view about the national economy.