ST.
PETERSBURG, Fla., Aug. 7, 2024
/PRNewswire/ -- Despite the threat of frequent travel
disruptions and an extremely active hurricane season, travel
is still up by over 8% this fall, according to Squaremouth.com, the
nation's leading travel insurance marketplace.
Analyzing traveler spending data from thousands of travel
insurance policies purchased for trips this fall, Squaremouth
reveals the top autumn travel and spending trends of 2024.
Trip Costs Are Up Over 30%
The cost of travel has
continued to rise throughout 2024, and this fall is no exception.
Average fall trip costs have gone up over 36% in a single year from
$5,907 in 2023, to a staggering
$8,056 this fall.
Americans Are Flocking to Italy
For the first time in over a
decade, Italy is the most popular
fall destination for Squaremouth users, surpassing the US and
Mexico. Over 12% of American
travelers are opting to travel to Italy this year, compared to only 8% last
fall.
Other Notable Stats:
- Of the top 10 fall destinations, Mexico has the lowest average trip cost of
$3,526, while Japan has the highest average trip cost at
over $9,000, more than double that of
Mexico.
- This fall marks the first time Portugal has made it to the list of top 10
destinations.
Top 10 2024 Fall Destinations:
|
Destination
|
% of
Travelers
|
Average Trip
Cost
|
|
Italy
|
12.10 %
|
$8,029
|
|
United
States
|
10.43 %
|
$4,908
|
|
Mexico
|
5.71 %
|
$3,526
|
|
Great
Britain
|
4.90 %
|
$5,939
|
|
Spain
|
4.32 %
|
$6,778
|
|
France
|
4.17 %
|
$7,176
|
|
Canada
|
3.99 %
|
$6,415
|
|
Greece
|
3.82 %
|
$8,595
|
|
Japan
|
3.16 %
|
$9,004
|
|
Portugal
|
3.02 %
|
$7,134
|
Boomers Take the Most Trips
While travel is up
overall, Boomers are leading the travel game this fall, making up
nearly half of all travelers at 47%, up from 34% last
year.
Notable Stats:
- Gen Z makes up the smallest percentage of travelers this fall
at 9%, down over 18% from last year.
- The Silent generation has made the biggest leap in the number
of travelers this fall, up 44% from last year.
|
Generation
|
% of Travelers
2024
|
2023
|
% Change
YOY
|
|
Boomers
|
47 %
|
34 %
|
+38 %
|
|
Gen X
|
17 %
|
25 %
|
-32 %
|
|
Millennial
|
14 %
|
21 %
|
-33 %
|
|
Silent
|
13 %
|
9 %
|
+44 %
|
|
Gen Z
|
9 %
|
11 %
|
-18 %
|
Methodology: Squaremouth identified trends
amongst travel insurance policy sales purchased with travel dates
between 9/22/24 – 12/20/24.
About Squaremouth: Squaremouth.com has
insured over 3 million travelers. Using Squaremouth's intuitive
quoting and comparison engine, award-winning support team, and
verified customer reviews, travelers can save time and money to find
the best travel insurance policy for their trip.
Available Topic Expert: Jenna
Hummer is available for comment and interview.
jhummer@squaremouth.com
CONTACT:
Kylie Morgan
kyliem@louhammond.com
View original
content:https://www.prnewswire.com/news-releases/fall-travel-trends-travel-is-up-8-and-italy-takes-top-destination-302216128.html
SOURCE Squaremouth