Number of Year-End Holiday Travelers to Break Record, AAA Forecasts

Number of Year-End Holiday Travelers to Break Record, AAA Forecasts

 

If you are traveling during the year-end holiday season, it seems you will be among those setting a record, says Victory State Bank, Staten Island’s only community-based business bank.

The bank attributes this assessment to AAA, which projects the number of year-end holiday travelers will top 100 million for the first time on record.

Nearly one in three Americans will take a trip this holiday season, with 100.5 million expected to journey 50 miles or more from home. This represents a 1.4 percent increase over last year and the seventh consecutive year of year-end holiday travel growth. The year-end holiday travel period is defined as Wednesday, December 23, 2015 to Sunday, January 3, 2016.

"The holidays are a time for joining with friends and family, and the record number of people traveling this holiday should make for a joyous travel season," said Marshall Doney, AAA President and CEO. "Rising incomes and low gas prices are helping to fill stockings this year, and more people than ever will choose to spend those savings on travel this year."  

The increase in holiday travel this year is being driven by continued improvement in the labor market, rising incomes and low prices, including gas prices that remain well below last year's levels.

This is helping boost Americans' disposable income, but some consumers continue to remain cautious about their finances as they head into the holiday season.

About Victory State Bank

 

VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.

 

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