With the autumn season approaching, travel insurtech company Squaremouth.com reports US tourists are spending 35% more than last fall.
Squaremouth experts attribute the higher price tag to inflation. Earlier this year, over half of Squaremouth customers said they were spending more on travel due to the rising cost of travel, attributing the increase to inflation and gas prices, rather than intentionally spending more.
While pent-up demand could play a factor, there was little change between pre and post-pandemic spending. In fact, travelers spent less on Fall travel in 2021 compared to 2019.
Fall Travel Spending By The Numbers
2022 Fall Travel Spending Data:
Average Trip Cost: $9,796.36
% Change Over 2021: 35%
% Change Over 2019: 26%
2021 Fall Travel Spending Data:
Average Trip Cost: $7,257.66
% Change Over 2019: -6.5%
2019 Fall Travel Spending Data:
Average Trip Cost: $7,758.14
Spending Per Top 10 Destinations
Of the top international destinations this fall, Squaremouth reports the most expensive trips are to Greece, while the cost of travel to Israel has increased the most year-over-year.
This season, the average cost of a trip to Israel is over 190% more than this time last year. Of the top destinations, Canada had the second highest jump with a 162% increase over Fall 2021.
Average Trip Cost Per Top 10 International Destinations
Italy – $6,848.90
Mexico – $3,379.17
Spain – $5,551.10
Israel – France – $6,195.85
Bahamas – $3,160.81
Portugal – $5,079.15
Greece – $7,328.47
Canada – $5,771.65
Germany – $5,881.93
Methodology: Squaremouth analytics compared travel insurance policy sales for trips being insured between September 22nd and December 21 of 2022, 2021 and 2019.