A record 71 million people are expected to travel during the upcoming long weekend, with growth similar to pre-pandemic levels. Despite high fuel costs and the threat of a hurricane, Americans are eager to hit the road and kick off Fourth of July festivities.
According to AAA, almost 60 million people will drive to their destinations, nearly 6 million will fly, and around 4.6 million will take buses, trains, or cruises during the holiday period. This surge in travel is seen as a positive indicator for consumer sentiment and the economy in an election year.
While fuel prices have eased slightly in recent months, they remain higher than historical levels. Despite this, travelers seem undeterred, with vacation plans largely unaffected by higher prices. The rate of change in fuel prices, rather than the absolute price, seems to have the biggest impact on consumer behavior.
The impact of Hurricane Beryl, which has caused devastation in the Caribbean, is not expected to significantly affect US travel plans. Fuel inventories are well-stocked, providing a buffer against any potential disruptions in refining operations due to the hurricane.
Overall, Americans remain optimistic and eager to travel, with a strong desire to make the most of the holiday weekend. The record-breaking number of travelers reflects a sense of optimism and a willingness to get out and explore after a challenging period of restrictions and limitations due to the pandemic.
Source
Photo credit www.aljazeera.com