ST. PETERSBURG Fla., August 17, 2022 – Less travelers are gearing up for Labor Day travel this year, according to travel insurtech company Squaremouth.com.
The travel industry has struggled to keep up with current demand for the majority of the summer – a peak time for travelers to test their luck amid flight delays, cancellations, and labor shortages.
Here are three Labor Day travel trends that offer a good indication of how Americans are viewing travel.
1. Gas Prices, Travel Delays Could Lead to Less Travel
Squaremouth says Labor Day weekend travel bookings are currently down 30% compared to last year.
One reason could be the rising gas prices, as it is historically a popular driving weekend. Coupled with ongoing airline issues, travelers may be more inclined to stay home.
Earlier this year, over half of Squaremouth travelers reported spending more this year compared to years past, with the majority attributing the increase to inflation and the rising cost of travel.
The Labor Day travel decline could also be a result of bigger trips earlier in the year. Year-to-date, Squaremouth reports 250% more trips scheduled between January and August of this year, compared to 2021.
2. Travelers Are Concerned About Flight Delays
Of travelers who choose to fly, the majority indicate concerns over flight cancellations and delays.
Squaremouth reports a 92% increase in Labor Day travelers looking for “Travel Delay” coverage, as well as 24% increase in “Cancel For Any Reason” searches.
3. Travelers Focus on Affordable Trips
Labor Day weekend travelers are spending almost 60% less than trips scheduled throughout the majority of the year, with the average trip cost of around $2,400.
Despite the ongoing airline complications, Squaremouth reports a 50/50 split between travelers going abroad and staying stateside, signaling the strong return of international travel post-pandemic.
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. email@example.com (727) 378-0938