88% of Americans Opt Out of Labor Day Travel Amid Rising Costs and Flight Delays
01 Agosto 2024 - 3:11PM
Far fewer travelers are planning Labor Day trips this year, with
88% opting to stay home, according to customer data* from travel
insurance marketplace, Squaremouth.com.
The travel industry has struggled recently amid global flight
delays, increasing travel costs and a rocky start to hurricane
season, and travelers are feeling the effects.
Here are two Labor Day travel trends that offer a good
indication of how Americans are viewing travel this fall and how
travel insurance can help.
Trip Costs are Skyrocketing This summer, over
half of Squaremouth travelers reported spending more compared to
years past, with the majority attributing the increase to inflation
and the rising cost of travel. Labor Day Weekend is proving no
different, with an average trip cost of $2,696 up a staggering 25%
over last year.
Protect Your Trip Investment: With trip costs
continuing to rise, it’s even more important for travelers with
prepaid expenses to protect their financial investment in their
trip. Insuring the cost of your trip typically costs only 5-10% of
your total trip cost and can cover up to 100% of your prepaid
expenses if you are prevented from taking your trip for reasons,
such as an illness, extreme weather, or delay of a travel
carrier.
Travel Delays are Top ConcernOf travelers
opting to take trips over the holiday weekend, the majority
indicate concerns over flight cancellations and delays, while only
24% are concerned over heavy traffic and inclement weather.
Make Delays More Comfortable: While there’s no
way to guarantee your flight will leave on time, travel insurance
can help protect you financially and make delays more comfortable.
Travel Delay coverage can refund meals and hotels during a delay,
and may even cover the additional costs paid to catch up to your
destination.
*Squaremouth polled more than 2,000 customers regarding their
upcoming Labor Day travel plans to determine the current trends
among travelers buying travel insurance. The survey was sent to all
Squaremouth customers between 07/26/2024 and 08/1/2024.
Contact info: Jenna Hummer jhummer@squaremouth.com