Thanksgiving Expenditure Up in United States
LendEDU released their annual Cost of Thanksgiving survey and the average American is expected to spend over $10.00 more than a year ago. One thousand people were surveyed to determine how much Thanksgiving will cost the average celebrator.
On November 22, families and friends throughout the United States will come together to give thanks and kick off the holiday season, and apparently kick off the gift-giving season as well.
For the second consecutive year, LendEDU conducted a survey of 1,000 Americans to uncover how much Thanksgiving will cost the average celebrator.
The Thanksgiving spending statistics they came away with are very interesting.
Respondents were asked the following question: "How much do you expect to spend on Thanksgiving this year?" After averaging together answers from 1,000 Americans, LendEDU found the average American will spend $175.65 on Thanksgiving. The median value was $100.
This year's figure is a bit of an increase over last year's figure of $165.14 per person.
One of the top expenditures is travel. AAA estimates that 50.9 million Americans journeyed at least 50 miles away from home last Thanksgiving with average car rental rates spiking to $70 per day. 4 million travel by plane and 1.5 million by train, the report says.
The average respondent says they will allocate 21 percent of their total Thanksgiving expenditures to travel. The percentage equates to $36.88 per person.
Obviously, food expenditures vary also depending on the size of the gathering for a meal.
All data found within the report came from a poll commissioned by LendEDU and conducted online by polling company Pollfish.