US travelers are spending more this fall, experts point to inflation

0

ST. PETERSBURG, Florida., September 14, 2022 /PRNewswire/ — As the fall season approaches, Travel Insurtech Squaremouth.com reports that American tourists are spending 35% more than last fall.

Squaremouth experts attribute the higher price to inflation. Earlier this yearmore than half of Squaremouth customers said they were spending more on travel due to rising travel costs, attributing the increase to inflation and gas prices, rather than intentionally spending more.

Although pent-up demand may play a role, there was little change between spending before and after the pandemic. In fact, travelers spent less on fall travel in 2021 compared to 2019.

Fall travel spending by the numbers

Fall 2022 Travel Spending Data:
Average trip cost: $9,796.36
% change from 2021: 35%
% change compared to 2019: 26%

Fall 2021 Travel Spending Data:
Average trip cost: $7,257.66
% change compared to 2019: -6.5%

Fall 2019 Travel Spending Data:
Average trip cost: $7,758.14

Expenses From above 10 Destinations

Of the top international destinations this fall, Squaremouth reports the most expensive trips are to Greecewhile travel costs to Israel increased the most year over year.

This season, the average cost of a trip to Israel This is more than 190% more than at the same time last year. Among the best destinations, Canada recorded the second highest jump with a 162% increase from fall 2021.

Average cost of travel by top 10 international destinations

Italy$6,848.90
Mexico$3,379.17
Spain$5,551.10
IsraelFrance$6,195.85
Bahamian$3,160.81
Portugal$5,079.15
Greece$7,328.47
Canada$5,771.65
Germany$5,881.93

Methodology: Squaremouth Analytics compared sales of travel insurance policies to insured trips between September 22 and December 21 of 2022, 2021 and 2019.

About Squaremouth

Squaremouth is a travel insurance comparison company that helps customers instantly find, compare and buy travel insurance policies online.

Squaremouth.com is home to the most intuitive travel insurance quote and comparison engine on the market today. Coupled with over 100,000 verified customer reviews and the largest product portfolio, Squaremouth allows customers to purchase a travel insurance policy from all major providers in the United States.

As a business, we prioritize reputation over profits, with the primary goal of helping every customer find the coverage they need at the lowest possible price. Founded in 2003, Squaremouth.com – and our award-winning customer service team – has helped over 2 million travelers find the best travel insurance policy for their trip.

SOURCE Squaremouth

Share.

Comments are closed.