ST. PETERSBURG, Fla., July 13, 2022 /PRNewswire/ — Regardless of widespread information of inflation hitting a brand new 40-year excessive and rising fuel costs, journey insurtech firm, Squaremouth.com, stories the common journey price of American vacationers has truly decreased general, in comparison with pandemic and pre-pandemic years.
Squaremouth breaks down 4 stunning traveler spending tendencies:
Journey Prices Much less
Aggressive affords and excellent vouchers, coupled with the energy of the US greenback overseas, might contribute to low journey prices.
- 12 months to this point, the common journey price on Squaremouth.com is roughly $5,300
- All through the peak of the pandemic (2020), Squaremouth reported a mean journey price of $5,800
- In 2019, the common journey price was near $6,000
Worldwide Journey is Cheaper Total Than Home
For the second 12 months in a row, home journey prices greater than worldwide journeys.
- 12 months to this point, the common price of a home journey is roughly $500 greater than a world journey
- Nevertheless, of the preferred locations, journeys to Greece are the most costly, averaging a visit price of roughly $7,600, adopted by Italy and France
Youthful Vacationers are Spending Extra
Squaremouth has seen a rise in youthful vacationers insuring their journeys in comparison with previous to the pandemic.
- Over 50% of journey insurance coverage shoppers are underneath the age of fifty
- Youthful vacationers (<50) are spending about $400 extra per journey in comparison with 2019
Fuel Worth Enhance Made Minimal Influence on Journey Prices
In the course of the first quarter, Squaremouth analysts in contrast rising fuel costs to journey prices.
- Regardless of a 17% enhance in fuel costs month-over month, Squaremouth solely reported a .21% enhance in journey prices throughout the identical interval
Extra Assets: Live data room
Methodology: Squaremouth.com hosts the biggest variety of journey insurance coverage suppliers and insurance policies in the marketplace. Squaremouth Analytics in contrast hundreds of travel insurance policies bought from Jan 1, 2022 to Jun 14, 2022 to ascertain traveler spending tendencies.
About Squaremouth
Squaremouth is a journey insurance coverage comparability firm that helps prospects immediately search, examine, and purchase journey insurance coverage insurance policies on-line.
Squaremouth.com hosts probably the most intuitive journey insurance coverage quoting and comparability engine in the marketplace at the moment. Coupled with over 100,000 verified buyer opinions and the biggest portfolio of merchandise, Squaremouth permits prospects to buy a journey insurance coverage coverage from each main supplier within the US.
As an organization, we prioritize popularity over income, with a core aim of serving to each buyer discover the protection they want for the bottom attainable worth. Based in 2003, Squaremouth.com – and our multi-award-winning customer support staff – has helped greater than 2 million vacationers discover the very best journey insurance coverage coverage for his or her journey.
SOURCE Squaremouth
