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Peak summer travel season is just weeks away, and tourists are beginning to get excited about the epic trips they have planned.
With more tourists than ever expected to travel abroad this year, and most trips already booked, we now have access to new data showing this year’s travel trends.
A new report from travel insurance company Squaremouth breaks down info on the destinations, expenses, and demographics for travel in summer 2023.
According to Squaremouth’s report, which analyzed data from thousands of travel insurance policies that were purchased for this summer, travelers are spending more.
For the third year in a row, travel costs have increased, making summer 2023 the most expensive year to date.
On average, travelers are spending $9,333 on trips this summer. That price is nearly 7% higher than in 2022 and 27% higher than 2021’s costs.
In 2021 when Covid was more prevalent and older people were at a higher risk of health complications, baby boomers only made up 29% of Squaremouth’s travelers.
Last year that increased to 33%, and now it has risen to 40%. The percentage of Gen Xers traveling this summer is second highest at 22%, followed by Gen Z at 15% and Millennials at just 12%.
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However, it is important to note that the data is based on information gathered from people who have purchased travel insurance policies from Squaremouth. So while it is generally interesting information, it is only one piece of the puzzle.
Are millennials traveling less? Not necessarily – they could be purchasing insurance from other companies or not buying it at all.
Additionally, a higher percentage of baby boomers traveling does not mean that fewer younger generations are packing their bags; it simply means that the proportion of boomers has increased at a higher rate.
A whopping 76% of Squaremouth customers are headed abroad this summer. One region, in particular, accounted for 42% of all travel insurance sales – Europe. In fact, 8 of the top 10 international destinations are in Europe.
So where are all these travelers headed? By breaking down the percentage of travel insurance policy sales by destination, Squaremouth has reported the 10 most popular international destinations.
Stunning Norway is the 10th most popular international destination, with 2.2% of travelers headed to the Scandinavian Adventureland.
With dramatic scenery, terrific cultural festivals, and some of the best places to view the Northern Lights, Norway is becoming more and more popular with American tourists.
A long-time favorite destination for U.S. tourists, Ireland frequently receives accolades for its multitude of travel opportunities.
Be it the ease of traveling in an English-speaking country, the cozy pubs, or the dramatic Atlantic coastline, Ireland is a great destination for balancing fun nights out with adventure.
Germany is a constant favorite for travelers. Its cities are packed with history, and thanks to an efficient train network, it is possible to visit multiple cities in one trip.
Train travel is so popular in Germany that this summer, the government is introducing passes for unlimited rail travel for just $52 per month!
In recent years, travel to Iceland has increased considerably. The otherworldly landscapes present throughout the country attract visitors looking for a nontraditional vacation.
Adventure awaits in Iceland’s hot springs, wild beaches, and other outdoor excursions.
The fact that Mexico is on this list will come as no surprise. However, it’s ranking at #6 might be.
Mexico frequently makes headlines for its record-breaking tourist numbers, and the majority of them are American.
Idyllic Greece, with its picturesque towns, relaxing islands, and incredible food is a trending destination for 2023.
In fact, the Mediterranian paradise has become so popular that officials recently began asking tourists to explore more off-path destinations to help prevent over-tourism.
Despite near-constant strikes and protests, France remains a top destination for U.S. tourists.
With the recent chaos in Paris having been well reported, and prices that are unaffordable for many, some travelers are heading to more affordable destinations in France.
The United Kingdom, and London in particular, is becoming easier to reach from the U.S.
JetBlue began flying to London last year, and other low-cost airlines like Norse Atlantic are hoping to make travel there more affordable.
Often overlooked as an international travel destination, Canada should not be missed. While the country’s size can make planning a trip intimidating, once you settle on a region, you’ll find there is so much to do.
Canada is also incredibly easy to get to for many Americans – there are plenty of flights, and driving is even an option for much of the population.
6.75% of travelers are heading to Italy this summer, which is not surprising considering Italy is on everyone’s bucket list.
This summer, Italians are expecting more visitors than ever. In an attempt to curtail the effects of a tourism boom, the nation is implementing several changes, including raising ticket prices for popular sites, requiring reservations, and introducing visitor fees.
Traveler Alert: Don’t Forget Travel Insurance For Your Next Trip!
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