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Bank of America Corp.

Labor Day Travel and Philanthropy in New Mexico

Strategic Insights

— 1 min read

New Mexicans can expect a relatively smooth travel experience over the Labor Day weekend, with a 9% increase in domestic travel bookings and a 2% decrease in domestic travel costs. Meanwhile, Bank of America has announced a $1.17 million grant program to support local nonprofits, with 30 organizations receiving funding to address issues such as food insecurity, housing, education, and economic mobility.

Key Takeaways:

  • Labor Day weekend travel bookings rose 9% nationwide compared to the same period last year, with New Mexicans expected to pay less for gas due to a statewide average pump price of $3.19 per gallon.
  • The Bank of America Charitable Foundation has awarded $1.17 million in grants to 30 New Mexico nonprofits, with the intention of boosting economic mobility in local communities.
  • Recipient organizations include the Albuquerque Community Foundation, Albuquerque Meals on Wheels, Center of Southwest Culture, and various other groups addressing food insecurity, housing, education, and economic mobility.
  • Labor Day weekend travel advice from AAA includes identifying must-see sights and creating a flexible itinerary ahead of time.
  • INRIX recommends avoiding heavy traffic during peak travel times on Thursday, Friday, Saturday, and Sunday.
  • Bank of America aims to support nonprofits that are on the ground tackling obstacles New Mexico communities face, with a focus on quality of life improvements.

Statistics:

  • 9% increase in domestic travel bookings nationwide over Labor Day weekend.
  • 2% decrease in domestic travel costs nationwide over Labor Day weekend.
  • $1.17 million in grants awarded to 30 New Mexico nonprofits by the Bank of America Charitable Foundation.
  • Average gas price in New Mexico: $3.19 per gallon.
  • Number of Bank of America financial centers and ATMs in New Mexico: 31.

Sources:

  • AAA News Release: "AAA Reports Labor Day Weekend Travel Jab"
  • Bank of America News Release: "Bank of America Charitable Foundation Awards $1.17 Million in Grants to New Mexico Nonprofits"

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