For over two years, Covid changed everything about how Americans travelled, including who travelled. As travel returns to ‘normal’, Squaremouth analysed data from travel insurance consumers to reveal three new traveller trends.
Baby Boomers (born 1946-1964) saw the highest increase in both total number of travellers, and overall travel insurance market share, for Q1 and Q2 of 2022 compared to the previous year.
Baby Boomers were also the only generation to see a positive increase to their market share in Q2 2022 compared to Q2 2021. While almost all demographics have continued to experience an increase in number of travellers, the recent drastic spike in Boomer travellers caused the deficit of other generational market share.
The return of Baby Boomer travellers comes after an almost 90-per-cent decrease at the onset of the pandemic.
The Silent Generation (born 1928-1945) is the only generation Squaremouth reports having less travellers in 2022 compared to 2019. This may confirm seniors are still not as comfortable traveling today as they were pre-Covid, despite widespread vaccination efforts.
Baby Boomers buy less travel insurance
The decrease in older travellers, and increase in younger traveller’s insuring their trips, has kept Squaremouth’s average down. Currently they report an average traveller age of 44, compared to 50+ pre-Covid. At the height of the pandemic this average age dropped to 38.
Baby Boomers were the only generation to experience a decrease in their overall travel insurance market share this year compared to pre-Covid years. Squaremouth attributes their drop to an increase in younger demographics, rather than a decrease in Boomer-aged travellers.
Throughout the pandemic, younger generations out-travelled their seniors, and subsequently out-purchased travel insurance, whether by choice or due to Covid-related requirements.
The Millennial (1981-1996) generation had the biggest increase in insured travellers in Q2 2022 compared to pandemic years. Likewise, Gen Alpha (born since 2010) experienced the largest increase in travellers over the course of the entire year so far, compared to pre-Covid years. The youngest generation also accounts for the largest increase in market share compared to 2019.
Squaremouth says the increase in younger travellers aligns with the rise of their millennial-aged parents insuring their trips.