ST. PETERSBURG, Fla., July 13, 2022 /PRNewswire/ — Even with common news of inflation hitting a new 40-yr higher and increasing gasoline rates, travel insurtech business, Squaremouth.com, studies the average vacation price of American travelers has really lowered in general, when compared to pandemic and pre-pandemic years.
Squaremouth breaks down four surprising traveler paying out developments:
Travel Expenditures Fewer
Aggressive delivers and fantastic vouchers, coupled with the energy of the US dollar abroad, may perhaps contribute to lower vacation charges.
- 12 months to date, the common trip charge on Squaremouth.com is approximately $5,300
- During the height of the pandemic (2020), Squaremouth documented an normal journey value of $5,800
- In 2019, the typical trip price was shut to $6,000
Worldwide Journey is More cost-effective Over-all Than Domestic
For the next yr in a row, domestic journey expenses a lot more than international excursions.
- 12 months to date, the average charge of a domestic journey is approximately $500 a lot more than an worldwide excursion
- Having said that, of the most popular places, trips to Greece are the most expensive, averaging a journey price of approximately $7,600, adopted by Italy and France
Youthful Travelers are Shelling out Additional
Squaremouth has noticed an increase in more youthful vacationers insuring their excursions in contrast to prior to the pandemic.
- Around 50% of journey insurance shoppers are less than the age of 50
- Youthful travelers (<50) are spending about $400 more per trip compared to 2019
Gas Price Increase Made Minimal Impact on Travel Costs
During the first quarter, Squaremouth analysts compared rising gas prices to trip costs.
- Despite a 17% increase in gas prices month-over month, Squaremouth only reported a .21% increase in trip costs during the same period
Additional Resources: Live data room
Methodology: Squaremouth.com hosts the largest number of travel insurance providers and policies on the market. Squaremouth Analytics compared thousands of travel insurance policies purchased from Jan 1, 2022 to Jun 14, 2022 to establish traveler spending trends.
Squaremouth is a travel insurance comparison company that helps customers instantly search, compare, and buy travel insurance policies online.
Squaremouth.com hosts the most intuitive travel insurance quoting and comparison engine on the market today. Coupled with over 100,000 verified customer reviews and the largest portfolio of products, Squaremouth allows customers to purchase a travel insurance policy from every major provider in the US.
As a company, we prioritize reputation over profits, with a core goal of helping every customer find the coverage they need for the lowest possible price. Founded in 2003, Squaremouth.com – and our multi-award-winning customer service team – has helped more than 2 million travelers find the best travel insurance policy for their trip.