Squaremouth reports rising spring travel costs

The company noted that its customers were spending US$7,719 on spring trips this year – roughly $800 more than the $6,943 being spent in the same period last year.

This also marks the third consecutive year that spring travel prices have increased – with costs up from $6,599 in 2022, and $6,172 in 2021.

Noting the rising cost of spring travel, Squaremouth warned: “High trip costs can result in significant financial loss if you need to unexpectedly cancel your trip.” The company recommended that travellers purchase a “comprehensive travel insurance plan with trip cancellation” to protect the investment.

Europe remains a popular destination

Squaremouth also reported that its early data showed high demand for European destinations this spring – with 47% of all travel insurance policies sold via its platform for spring getaways having a European nation as the primary destination. Many of these top destinations also involve paying “above-average trip costs”.

Italy was the most popular destination for a spring trip, with an average trip cost of $10,075.

Squaremouth also recommended that its American customers should protect their trip with a policy with strong travel delay and missed connection benefits – on account of the long travel distances needed to reach many of these high-cost destinations.

Squaremouth previously identified rising travel costs as one of its 2024 travel market trends.