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Domestic trips in U.S. to reach $2.9 billion by 2017

Staff writer | forecasts the number of domestic trips in the U.S. to grow at a compound annual growth rate (CAGR) of 1.58 percent and reach $2.9 billion by 2017.

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This Labor Day weekend, 25 million Americans are expected to travel. Both decreased oil prices and rising employment rates are boosting travel rates for the unofficial last weekend of summer.

In a 2013 survey, Domestic trips found that 85 percent of travelers used an automobile to get to their Labor Day destination, driving an average 594 miles round trip. Average U.S. oil prices are at the lowest levels for this time of year since 2004.

National average gas prices have reached $2.59 per gallon, $0.84 less than 2014. With gas prices so low, we can expect more families to drive to their holiday destinations.

Labor Day weekend trips include everything from camping to beach getaways. The top five destinations for 2014 were Las Vegas, Nevada; Chicago, Illinois; Atlanta, Georgia; San Diego, California; and New York City, New York.

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