Fewer Americans Traveling For Holiday
A recent study by AAA projects 2.5 percent fewer consumers will hit the road for a Fourth of July weekend vacation.
Consumers will not only be traveling less, but shorter distances, as well. Nationally, 84 percent of travelers will go by vehicle, but the average distance of each trip is projected to be approximately 573 miles. This is 7 percent shorter than last year's figure of 617 miles.
In total, 39 million travelers will drive or fly at least 50 miles away from home during the holiday weekend.
"While gas prices are significantly more than they were last year, prices have come down in the last two weeks and we are seeing travelers taking to the roads this summer holiday to enjoy our Great Lakes and outdoor destinations," said Steve Wagner, president of AAA Michigan.
Consumers who are planning on traveling this summer should try not to get carried away with using their credit cards. Gas prices are still elevated, and the economy is still struggling. With the possibility of a second recession on the horizon, getting out credit card debt quickly could be a wise decision.
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