ST. PETERSBURG, Florida., August 22, 2022 /PRNewswire/ — Fewer travelers are preparing for Labor Day this year, travel insurance company says Squaremouth.com.
The travel industry has struggled to meet current demand for most of the summer – a peak time for travelers to try their luck amid flight delays, cancellations and labor shortages. work.
Here are three Labor Day travel trends that offer a good indication of how Americans view travel.
1. Gas prices and travel delays could reduce travel
Squaremouth says Labor Day weekend travel bookings are currently down 30% from last year.
One reason could be rising gas prices, as this is historically a popular driving weekend. In addition to ongoing airline issues, travelers may be more inclined to stay home.
Earlier this year, more than half of Squaremouth travelers reported spending more this year compared to years past, with the majority attributing the increase to inflation and the rising cost of travel.
The drop in Labor Day trips could also be the result of higher trips earlier in the year. Year-to-date, Squaremouth is reporting 250% more trips planned between January and August this year, compared to 2021.
2. Travelers are worried about flight delays
Among travelers who choose to fly, the majority indicate concerns on flight cancellations and delays.
Squaremouth reports a 92% increase in Labor Day travelers searching for “Travel Delay” coverage, as well as a 24% increase in “Cancel for any reason” searches.
3. Travelers are focusing on affordable travel
Labor Day weekend travelers spend nearly 60% less than planned trips for most of the year, with the average trip cost around $2,400.
Despite ongoing airline complications, Squaremouth reports a 50/50 split between travelers going abroad and staying in the United States, signaling the strong return of international travel post-pandemic.
square mouth is a travel insurance comparison company that helps customers instantly search, compare and purchase 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.