Inflation leads to record traveller spending

With the summer travel period under way, travellers are experiencing what could be the most expensive travel season.

In a recent survey of over 4,000 US travel insurance customers by travel insurance marketplace Squaremouth, 73 per cent of respondents said they were more concerned or equally concerned about protecting their trip costs this summer compared with previous years.

With more than half of surveyed travellers stating they’re having to spend more on travel, Squaremouth reports the highest average trip cost in company history. Travellers are spending more than US$7,800 on average per trip this summer.

The cost of international travel is up 25 per cent from last year, with many travellers searching for destinations that are more affordable.

The company’s data has revealed the most affordable destinations based on insured trip costs are:

• Colombia – $3,344
• Mexico – $3,878
• Puerto Rico – $3,907
• Bermuda – $4,479
• Dominican Republic – $4,497
• Bahamas – $4,658
• Jamaica – $4,698
• Aruba – $4,917
• Vietnam – $5,181
• Philippines – $5,330.

It is not just Americans who are concerned about summer holiday spending this year; Brits are also looking for alternative – and more affordable – destinations this season.