2024 Travel Recap: 6 Surprising Travel Industry Trends

ST. PETERSBURG, Fla., Dec. 12, 2024 /PRNewswire/ -- The 2024 travel year was filled with surprises. Record-breaking hurricane and holiday travel seasons, increased traveler anxiety, frequent travel delays, and updated DOT travel regulations were just some of the year's notable trends.

Analyzing traveler spending and survey data from thousands of travel insurance policies purchased for trips in 2024, Squaremouth.com, the leading US travel insurance marketplace, unveils the ups and downs of travel.

Travel Insurance Claims Increased

2024 was marred with travel disruptions and delays, and according to Squaremouth data, travel insurance claims increased 18% in 2024 compared to 2023. Canceled trips accounted for 27% of claims, followed by medical emergencies at 24%. Travel delays and missed connections were the third most common claims, making up 21%. 

Trip Costs Continued to Climb

Travel costs have continued to rise all year, and are expected to continue to rise through 2025. The average trip cost for Americans in 2024 was $5,861, up 25% from 2023 and 39% from 2022.

Travelers Took Fewer, Longer Trips

According to a recent survey, 68% of travelers took 1-2 trips in 2024. In contrast, 64% of travelers in 2023 opted for three or more trips. While travelers took fewer overall trips in 2024, the average trip length increased by 21%, from 14 days in 2023 to 17 days in 2024.

Boomers Took the Most Trips 

For the third consecutive year, the Boomer generation took the most trips in 2024, accounting for 39%, a 5% increase from 2023. Gen X travelers came in second at 22%, followed closely by Millennials at 18%. 

Cruises Increased in Popularity 

Cruises grew in popularity, with 33% of travelers choosing a cruise vacation in 2024, compared to 26% in 2023 and 20% in 2022. Top cruising destinations in 2024 included Europe, the Caribbean, Mexico, Alaska, and Antarctica. 

Social Media Influenced Destination Choices 

Over 30% of travelers reported that social media influenced their choice of travel destinations in 2024. Additionally, 17% selected their travel providers based on social media channels.

About Squaremouth: Squaremouth.com has insured over 3 million travelers. Using Squaremouth's intuitive quoting and comparison engine, award-winning support team, and verified customer reviews, travelers can save time and money to find the best travel insurance policy for their trip.

Available Topic Expert: Jenna Hummer is available for comment and interview. [email protected]

SOURCE Squaremouth