Travel increases by 8% and Italy is the top destination

ST. PETERSBURG, Fla., Aug. 07, 2024 (GLOBE NEWSWIRE) — ST. PETERSBURG, Fla., Aug. 07, 2024 — Despite the threat of frequent travel disruptions and one extremely active hurricane seasonTravel is still up more than 8% this fall, according to Squaremouth.com, the nation's leading travel insurance marketplace.

By analyzing traveler spending data from thousands of travel insurance policies purchased for trips this fall, Squaremouth reveals the top fall travel and spending trends for 2024.

Travel costs have increased by more than 30%

Travel costs continued to rise throughout 2024and this fall is no exception. The average cost of a fall trip has increased by more than 36% in one year, from $5,907 in 2023 to $8,056 this fall.

Americans flock to Italy

For the first time in over a decade, Italy is the most popular fall destination for Squaremouth users, surpassing the U.S. and Mexico. More than 12% of U.S. travelers are choosing to travel to Italy this year, up from just 8% last fall.

Other notable statistics:

• Among the top 10 fall destinations, Mexico has the lowest average travel cost at $3,526, while Japan has the highest average travel cost at over $9,000, more than double that of Mexico.

• This fall marks the first time that Portugal has made the top 10 destinations list.

Top 10 Fall Destinations 2024:

Baby boomers are the ones who travel the most

Although travel is up overall, baby boomers are leading the way in travel this fall, making up nearly half of all travelers, or 47%, up from 34% last year.
Notable statistics:

• Gen Z represents the smallest percentage of travelers this fall, at 9%, down more than 18% from last year.

• The Silent Generation made the biggest jump in travel this fall, up 44% from last year.

Methodology: Squaremouth identified trends among sales of travel insurance policies purchased with travel dates between 9/22/24 and 12/20/24.

CONTACT: Jenna Hummer Squaremouth 4349608093 jhummer@squaremouth.com