AAA projects 43.4 million Americans will journey 50 miles or more from home during the Thanksgiving holiday weekend, a decrease of 1.5 percent from the 44 million people who traveled last year. This decrease falls just shy of last Thanksgiving's four-year peak since the recession-driven declines in 2008-2009 when Thanksgiving travel fell by 25 percent. The Thanksgiving holiday travel period is defined as Wednesday, Nov. 27 toSunday, Dec. 1.

Highlights from this year's 2013 AAA Thanksgiving Holiday Travel Forecast include:

• Thanksgiving travelers to total 43.4 million, a decrease of 1.5 percent from the 44 million who traveled last year
• Ninety percent of travelers or 38.9 million to travel by automobile, a decline of 1.6 percent
• Median spending expected to drop nearly seven percent to $465, compared to $498 last year.
• The Thanksgiving holiday is a less expensive holiday for travelers compared to other holidays. This year Labor Dayspending was expected to be $804, Independence Day $749 and Memorial Day $659.
• Holiday air travel to decline 3.7 percent to 3.14 million travelers from 3.26 million in 2012
• Average distance traveled to increase to 601 miles from 588 miles.
• The Wednesday before Thanksgiving will be the busiest single day of travel with 37 percent of travelers departing for tripsNov. 27.

"While the economy continues to improve, the sluggish pace of the recovery is creating uncertainty in the minds of some consumers and therefore AAA is projecting a slight decline in the number of Thanksgiving travelers this year," said AAA Chief Operating Officer Marshall L. Doney.  "For those traveling the good news is motorists will receive a holiday bonus in the form of lower gas prices which are at their lowest levels for the holiday since 2010."

"The primary focus of Thanksgiving, more so than any other holiday, is to gather with friends, family and loved ones and celebrate with each other. Travelers attempting to carve out a travel budget will be happy to know that Thanksgiving will be the least expensive holiday of the year," continued Doney. 

Impact of gasoline prices on travel plans

AAA estimates that most drivers will pay the cheapest gas prices for the Thanksgiving holiday since 2010. The national average is at the cheapest level of the year and should continue to drop in the weeks ahead. Drivers can find stations selling gas for less than $3.00 per gallon in the vast majority of states. The decreased cost of gas will provide consumers with real savings that could be used for other purposes on the trip.

Wednesday before the holiday will be busiest travel day

The Thanksgiving holiday is unique falling on a Thursday every year. Many people are off from work the Friday after; giving travelers more time to spend with family and friends.   AAA asked intended travelers which days they would depart for and return from Thanksgiving travel. Among those surveyed, the highest volumes of travelers plan to leave for their trip the Wednesday before the holiday (37 percent) and return the following Sunday (33 percent) with another 24 percent expecting to return onMonday, Dec 2 or later.

Automobile travel remains dominant mode of transportation, air travel decreases

Approximately 90 percent of travelers or 38.9 million people plan to travel by automobile this Thanksgiving. This is a 1.6 percent decrease over the 39.5 million people who traveled by auto last year.  Air travel is expected to decrease 3.7 percent as 3.14 million holiday travelers will take to the skies.

Those traveling by air will find airfares comparable to last year according to AAA's Leisure travel Index.  For the Thanksgivingholiday the average lowest round-trip rate is $187 for the top 40 U.S. air routes compared to $188 last year. Approximately 1.4 million travelers will choose other modes of transportation, including rail, bus and cruise ship.

Hotel rates relatively flat, car rental rates increase six percent

According to AAA's Leisure Travel Index, Thanksgiving holiday hotel rates for AAA Three Diamond lodgings are expected to average $142 per night compared to $143 last year. Travelers planning to stay at AAA Two Diamond hotels can expect to pay an average cost of $105 per night, compared to $104 in 2012.  Weekend daily car rental rates will average $50, compared to$47 last year.

Average travel distance increases

According to the survey of intended travelers, the average distance traveled by Americans during the Thanksgiving holiday weekend is expected to be 601 miles, which is an increase of 2.2 percent from last year when travelers planned to log 588 miles.  

Median spending down almost seven percent; visiting family, dining and shopping top activities

Median spending is expected to be $465, a 6.6 percent decrease compared to the expected median spending of intended holiday travelers ($498) in 2012.

While spending time with friends and relatives and dining are primary activities for nearly all holidays, it is even more relevant for Thanksgiving travelers. Therefore it is not surprising that spending time with family and friends (67 percent) and dining (56 percent) are the most popular activities planned by travelers. Despite lower median spending, nearly half of all travelers (44 percent) plan to shop during the holiday which can be expected given Black Friday occurs during the holiday weekend.