More Americans than ever before to travel this holiday season

USA TODAY

Champ, the mascot for the The Scranton/Wilkes-Barre RailRiders Triple AAA baseball team, performs a Christmas jig in front of a group of a group of dancers with Tracey's Academy of Dance based in Hazleton, Pa. on Nov. 23, 2013. AAA projects more travelers than ever before for the holidays, with 103 million Americans heading somewhere from Dec. 23 through Jan. 2.

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More Americans than ever before will hit the roads, tracks and skies this holiday season for a record-breaking end to the year.

Automobile club AAA projects 103 million will travel between Dec. 23 and Jan. 2, a 1.5% increase over 2015. Lower gas prices and increased optimism about the economy are spurring the uptick, which marks the eighth straight year of holiday travel growth.

The climb also comes despite a travel period that is one day shorter than 2015 because Christmas and New Year's both fall on Sundays this year.

The vast majority of travelers — 93.6 million — will hit the roads during the holiday season after U.S. drivers saved more than $27 billion in gas this year. However, prices are now edging up. The average price per gallon as of Dec. 5 was 14 cents higher than a year earlier, according to the travel group.

Helping move travelers along is an expected 4.1% rise in consumer spending this year, with personal income climbing 3.3%. “Rising incomes and continued low gas prices should make for a joyous holiday travel season,” AAA CEO Marshall Doney said.

The number flying will also be increasing, but there will be slightly fewer travelers taking cruises, trains and buses, according to AAA.

Airlines expect busy Christmas and record 2016

Airlines expect a boost to 45.2 million passengers from Dec. 16 through Jan. 5, a 3.5% increase, according to the trade group Airlines for America, which represents most of the largest carriers.

But airline executives warned investors that fourth-quarter earnings are expected to suffer a point or two because of Christmas and New Year’s falling on Sundays.

Is the Grinch stealing Christmas from the airlines?

Airfares are projected to average $204 round trip along the top 40 domestic routes, according to AAA. The cost of lodgings is expected to rise 7%, to an average $128 per night for two-diamond ratings and $160 for three-diamond.