Fewer People on the Road this July 4th
June 24, 2009 by Stephen Kersey
Filed under Business
Just like last summer, AAA is predicting a significant drop in the amount of travelers that will drive for more than 50 miles away from home. AAA blames this on a sudden increase in the price of gasoline and a general lack of disposable income in many households across the country, mostly due to the weak economy.
Whereas 37.8 million people hit the roads last year to celebrate Independence Day in a different location, AAA predicts that only 37.1 million people will travel by car this year. This means that 2 percent of all people that traveled for July 4th last year will opt to stay home, presumably due to the bad timing.
An interesting thing to note is that fuel prices are, on average, down from where they were this time last year. Another interesting figure is AAA’s prediction that air travel this July 4th will increase by 5 percent, which may account for some of those who will not be driving. AAA credits falling ticket prices for the change of heart.
Open Road (Image: Flickr)
Enter the summer of the “staycation.” Many cities are promoting this idea as an answer to reduced wages and a lagging economy. Although gas prices are lower than the same time last year, they’re still pretty high. Especially if you’re unepmloyed!