DENVER (KDVR) — Whether you take planes, trains or automobiles your trip is likely to cost more during the holidays, so travel experts advise booking earlier this year.
AAA of Colorado told FOX31 that travelers usually don’t book Thanksgiving tickets until mid to late October, and Christmas travelers tend to wait until early November.
Tourists spent $28.2B in Colorado last year, representing nearly 4% growth in spending
“If you do that now you’re among a minority of travelers,” AAA spokesperson Skyler McKinley said.
On Wednesday, the Federal Reserve announced that it would cut its key interest rate by a half-percentage point which could lead to an earlier increase in demand for travel.
“There’s going to be a jolt of confidence that will probably send the markets upward. That’ll make folks a little bit more willing to spend on credit. All that’s going to put more upwards pressure on the travel economy,” McKinley said.
AAA of Colorado said 55% of Colorado residents plan to travel for the holidays, 40% have already booked tickets and 60% are expected to book by the end of September.