Where are travelers planning to vacation this spring? What kind of trips are they taking? And what factors are driving those decisions?
Following is a roundup of the trends taking hold across the travel industry for spring of 2024. (Note: This story will be updated as new trend reports are released.)
Trends From Squaremouth
Trend 1: Soaring Travel Prices
Among the most significant spring trends reported by travel insurance comparison platform Squaremouth is the soaring cost of travel. Consumers are spending roughly $800 more per trip this year than they did in 2023, a year-over-year increase of 11%. And these climbing costs represent a longer-term trend, as well — 2024 marks the third consecutive year that spring travel prices have risen, though this year saw the highest jump (2022 prices rose 6.9% year over year, while 2023 costs increased by 5.2%).
Trend 2: Europe Remains Hot
European destinations continue to be the most popular spots for travel this spring, a continuation of post-pandemic demand for the region that has driven high pricing and low availability in traditional hotspots. In fact, Squaremouth reports that 47% of all insurance policies sold for spring getaways include a European nation, despite above-average trip costs.
A trip to Italy, for instance (the most popular destination for the season), is running travelers an average of $10,000, while a Scotland vacation (the No. 2 destination) is averaging $8,500 per trip. The cost to visit Spain (fourth on the list) is averaging $8,700, while France trips (fifth on the list) are up to an average of $9,600.
Other international destinations in high demand include Mexico (No. 3), Japan (No. 6), Greece (No. 7), Portugal (No. 8), the Netherlands (No. 9) and the Bahamas (No. 10).
Popular spring destinations with the lowest average trip costs, on the other hand, include Bermuda ($4,000), Mexico ($4,700), the Dominican Republic ($4,700), Jamaica ($4,700) and Aruba ($5,100).
Trend 3: Travelers Seek Adventure
In a Squaremouth poll of more than 3,250 travel insurance customers about their upcoming spring trips, 42% of respondents say the purpose of their getaway is to “look for adventure.” The company also found that sales for sports and activities are up 23% from last year, with hiking/trekking, scuba diving, horseback riding, safaris and cycling ranking as the most commonly insured activities among travelers this spring.
In terms of destinations, Squaremouth is seeing the biggest increase in interest for adventure travel to Australia, Peru, Switzerland, New Zealand, Japan, South Africa, Iceland, Nepal, Chile and Costa Rica.
