InsureMyTrip reveals generational holiday habits

Travel insurance comparison site InsureMyTrip has researched the travel habits of policyholders across four different generations: Gen Z, Millennials, Gen X, and Baby Boomers.

Its data team defines these age groups as:

• Gen Z – 6–26 years old
• Millennial – 27–45 years old
• Gen X – 46–57 years old
• Baby Boomer – 58–76 years old.

Average trip cost and length

The youngest generation, Gen Z, spend the least on their holidays, while Baby Boomers spend the most. However, though frugal with money, Gen Z are less frugal with their time, taking the longest holidays of the four generations – 23 days on average.

• Gen Z – Average Trip Cost – $3,215; Average Trip Length – 23 days

• Millennials – Average Trip Cost – $4,769; Average Trip Length – 15 days

• Gen X – Average Trip Cost – $5,906; Average Trip Length – 13 days

• Boomer – Average Trip Cost – $6,716; Average Trip Length – 16 days.

Top destinations

The United Kingdom, Mexico, and Italy are among the top spots across the board. In fact, Gen X and Millennials have the same top five destinations, except X are spending more.

Gen Z

1. United Kingdom – $3,122
2. Italy – $4,531
3. Israel – $2,369
4. Mexico – $2,122
5. France – $3,506.

Millennials

1. Mexico – $3,461
2. Italy – $6,354
3. Bahamas – $4,524
4. United Kingdom – $4,669
5. Israel – $4,769.

Gen X

1. Mexico – $4,398
2. Italy – $8,368
3. Bahamas – $3,985
4. United Kingdom – $6,025
5. Israel – $6,413. 

Boomer

1. Italy – $8,036
2. Mexico – $3,365
3. United Kingdom – $6,229
4. Canada – $5,397
5. France – $7, 637.

Travel insurance gross premium costs

In terms of travel insurance expenditure, there is a clear disparity among the generations, with Boomers spending the most and Millennials the least per person.

• Gen Z – $115pp
• Millennials – $80.50pp
• Gen X – $120pp
• Boomers – $214.50pp.

Earlier this year, InsureMyTrip also discovered that couples are more likely to purchase travel insurance than families.