Economy Watch Weekly: Memorial Day Travel Bump Reflects Industry’s Health

Recent reports from AAA and Airlines for America suggest that a boost in Memorial Day weekend travel and an expected increase in travel this summer reflect the overall positive growth of the industry, as consumers feel more confident in their ability to spend.

CPERadioAAA recently predicted 39.3 million Americans would travel 50 miles or more away from home during the Memorial Day weekend, which represents about 1 million more travelers than last year and the highest Memorial Day travel volume since 2005. This bump reflects the positive growth seen throughout the travel industry, as higher consumer confidence has meant people are more willing to spend on luxury goods like travel. Economy Editor Dees Stribling weighs in with the details, for the week ending May 26, 2017.