An estimated 48.7 million Americans will travel 50 miles or more from their home this Thanksgiving, the highest number of travelers since 2007, AAA predicts. 

The prediction is a 1.9 percent increase from 2015. It accounts for people traveling any time between Wednesday, Nov. 23, and Sunday, Nov. 27.

"This year’s increase in Thanksgiving travel is spurred by improvements in the economy during the second half of the year, including rising wages, increased consumer spending and overall strength in consumer confidence," AAA said.

The average gas price is $2.16 per gallon across the country, which is the second lowest it has been since 2008. Last year, the average was $2.05 per gallon.

More than 89 percent of the travelers, or 43.5 million, will be driving, while around 3.69 million will take a plane to their destination. The remaining travelers, about 1.44 million, will use other modes of transportation, such as trains or buses, AAA said.