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st.petersburg, florida, December 20, 2022 /PRNewswire/ — In 2023, international travel will recover at a faster pace despite rising prices as travelers shake off fears from the pandemic and plan bigger trips .
Squaremouth.com, a travel insurance marketplace, analyzed booking trends to identify five key travel predictions for 2023.
2023 Will Mark Full recovery of international travel
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Nearly 90% of insured trips were international trips, marking the first time that international travel matched pre-pandemic levels.
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Squaremouth expects high demand for international travel to continue in 2023.
Antarctica to top destinations for first time in 2023
With the return of international travel, mass travel to more adventurous destinations will become fashionable in 2023.
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Preliminary 2023 travel data shows Antarctica For the first time in history, it is a top destination.
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Other key destinations for early 2023 include: Israel, Costa Rica, France, SpainWhen Japan.
Top Insured Destinations in 2023 |
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destination |
2023 sales volume |
average travel expenses |
Mexico |
2362 |
$4,103.47 |
Italy |
1377 |
$8,662.87 |
Israel |
930 |
$7,494.12 |
Bahamas |
920 |
$3,998.42 |
France |
770 |
$8,200.67 |
Costa Rica |
664 |
$5,801.99 |
Spain |
595 |
$7,221.26 |
Japan |
522 |
$8,932.15 |
Antarctica |
510 |
$18,896.71 |
Canada |
509 |
$7,976.86 |
*Data through December 5, 2022
Travelers are ready to pay at least 25% more in travel costs
As economic uncertainty lingers, travelers are becoming more budget-conscious, change spending habits.
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Travel costs are getting more expensive and will continue to increase in 2023. Travelers will spend an average of 25.53% more on travel in 2022 compared to pre-pandemic figures.
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Millennials are spending an average of 40% more on travel than they did in 2019, and are feeling the most pressure on prices.
Elderly travelers return
older travelers Back to pre-pandemic numbers Squaremouth expects millennials and Gen Z to continue to buy travel insurance at a higher rate than in 2019.
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Over 60% of travel insurance buyers were born before 1980, including Generation X and Baby Boomers.In total, this group $2 billion About travel in 2023. Throughout the pandemic, these demographics showed the biggest declines.
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Millennials and Gen Z increased their market share for travel insurance purchases by more than 15%.
Travelers Worry Less About Coronavirus, Worry More For Airlines
by Air Travel Disruptions in 2022travel cancellations and travel delays are becoming more of a concern for travelers heading into 2023.
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Searches for travel insurance with COVID-related coverage declined by about 2% in 2022, while searches for cancellations for any reason declined by about 3% from 2021 and by about 9% compared to 2020. bottom.
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Travel delay compensation had the highest increase of all searches, partly due to airline flight cancellation issues.
Methodology: Squaremouth analysis compared sales of travel insurance policies for insured trips From 1 January to 5 December 2022To determine the top insured for 2023, Squaremouth Analytics analyzed every plan purchased. December 5, 2022 for travel From January 1 to December 31, 2023.
Note to editors
Travelers can quote, compare and buy travel insurance for their vacation trips on Squaremouth.com. With over 90 plans for sale from over 20 providers, Squaremouth offers the largest portfolio of products offering coverage relevant to the Covid-19 pandemic.
Available Topic Experts: Megan MoncriefChief Marketing Officer, and Joe Cortez, Travel Experts & Analysts, for comments and interviews.contact jcortez@squaremouth.com Arrange an interview.
Squaremouth maintains a list of national insurance requirements here.
https://www.squaremouth.com/destinations
About Square Mouse: Squaremouth.com insures over 2 million travelers. Intuitive use of Squaremouth Citation and comparison enginean award-winning support team, and verified customer reviews help travelers save time and money to find the best travel insurance for their trip.
View original content: https://www.prnewswire.com/news-releases/top-five-travel-trends-of-2023-international-travel-back-in-full-force-but-at-a- higher-cost-301707646.html
SOURCE Square Mouse
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