TAMPA, Fla. , (Dec. 14, 2011) – AAA forecasts 91.9 million Americans will travel 50 miles or more from home during the 2011-12 year-end holiday travel season, a 1.4 percent increase over the 90.7 million people who traveled last year. This year's expected holiday travel volume is the second highest in the past decade and represents 30 percent of the total U.S. population. AAA defines the year-end holiday travel season as Friday, December 23, 2011 to Monday, January 2, 2012. (See below for state-specific travel projections)
Economic improvements are continuing at a very slow pace, and consumer surveys show active concern and pessimism over the rate of economic recovery. The measure of economic activity, real gross domestic product, is expected to increase for the fourth quarter of 2011 by 1.5 percent compared to the fourth quarter of 2010. While 1.5 percent growth is still slow, it is a slight increase over the expected 1.3 percent fourth quarter growth predicted one month ago and the primary factor expected to drive this year's modest increase in year-end holiday travel.
"AAA is happy to learn so many Americans plan to travel this holiday season, contributing to the second-highest year-end holiday travel volume in the past decade. This year's travel forecast is second to the 2006-2007 holiday season when more than 93.6 million Americans traveled," said Brent Hubele, vice president, AAA Travel, The Auto Club Group. "This represents healthy growth following the 1.3 percent increase in 2010 holiday travel and is a notable milestone in the travel industry's recovery."
Almost three in five intending travelers (59%) said the economy has either no impact on their travel plans or they feel like things have improved for them. The remaining 41 percent state an intention to scale back travel plans due to economic concerns. Last year, 67 percent of intending travelers stated their travel plans were not impacted by the economic conditions at that time. Given current economic conditions, a majority of travelers reporting no economic impact on their travel plans is a positive sign for the travel industry and another reminder of just how important traveling is to Americans.
14, 2011) – AAA forecasts 91.9 million Americans will travel 50 miles or more from home during the 2011-12 year-end holiday travel season, a 1.4 percent increase over the 90.7 million people who traveled last year. This year's expected holiday travel
Major credit rating agencies such as Moody's provided a safety net. They routinely gave the bonds top AAA grades no matter if BBB securities were packed in. Emboldened by the AAA rating, the massive American International Group insured the bonds.
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