Travel Outlook: Q3/Q4 2022
ST. PETERSBURG Fla. September 8, 2022 –According to the TSA, overall travel exceeded pre-pandemic numbers for the first time over Labor Day weekend. Data from travel insurtech company, Squaremouth.com, says this trend will continue through the remainder of the year.
- Post-summer travel bookings on Squaremouth.com are already up over 60% over last year and 96% over 2019
Following the pandemic, travel insurance has remained in demand.
- While travel had not yet recovered until Labor Day 2022, travel insurance sales via Squaremouth exceeded pre-pandemic numbers last summer
International travel approaching pre-pandemic levels.
- 85% of trips booked on Squaremouth.com for the remainder of the year are to international destinations, compared to 89% in 2019.
Year-over-year, European countries are experiencing the highest increase in tourism.
- Travel to Italy, Spain, and France have all increased by over 100%, while popular pandemic destination, Turks and Caicos, fell by 72%
Less flights were delayed and canceled over Labor Day weekend, compared to both Fourth of July and Memorial Day this year.
- Squaremouth data shows consumers are still more concerned with flight delays, missed connections, and baggage benefits than last year
- Interest in Travel Delay coverage has grown by 74%, while Baggage Loss and Baggage Delay increased by 33% and 30% respectively
On the contrary, the threat of COVID-19-related travel concerns continues to fall.
- Squaremouth reports a nearly 20% decrease in consumers searching for coverage for contracting COVID-19 compared to last year
- Respectively, Cancel For Any Reason searches, which remained popular throughout the pandemic, have fallen by 37%
Methodology: Squaremouth.com hosts the largest number of travel insurance providers and policies on the market. Squaremouth Analytics compared thousands of travel insurance policies purchased for travel after Labor Day until the end of the year in 2019, 2021, and 2022, to establish traveler trends.
Additional Resources: Travel Insurance Live Data Resource
Squaremouth is a travel insurance comparison company that helps customers instantly search, compare, and buy travel insurance policies online.
Squaremouth.com hosts the most intuitive travel insurance quoting and comparison engine on the market today. Coupled with over 100,000 verified customer reviews and the largest portfolio of products, Squaremouth allows customers to purchase a travel insurance policy from every major provider in the US.
As a company, we prioritize reputation over profits, with a core goal of helping every customer find the coverage they need for the lowest possible price. Founded in 2003, Squaremouth.com – and our multi-award-winning customer service team – has helped more than 2 million travelers find the best travel insurance policy for their trip.
Available Topic Expert: Megan Moncrief, Chief Marketing Officer, is available for comment and interview. firstname.lastname@example.org (727) 378-0938