Air travel is expected to decline 1.4 percent, while automobile travel is likely to increase 2.1 percent to 33.2 million people.
Overall, 38.4 million Americans are expected to travel 50 or more miles from home.
"Although far too many Americans remain unemployed or under other financial stress, AAA's projected increase in Thanksgiving travel from one year ago is another hopeful sign that economic conditions are stabilizing and improving in some areas. We can also be thankful the gradual recovery we have been seeing in the U.S. travel industry since the start of the summer is continuing," AAA's director of Travel Services, Glen MacDonell said in a press release.
Thanksgiving travelers are expected to spend $718 per household for the holiday weekend, AAA estimates, and will journey an average of 815 miles round trip.