Squaremouth Report: Domestic Travel Growing Slower Than International
Sep 27, 2016, 01:57 ET
ST. PETERSBURG, Fla., Sept. 27, 2016 /PRNewswire/ -- International travel is outpacing domestic travel among U.S. residents, according to sales data from leading travel insurance comparison site Squaremouth.
"The United States remains the top destination among our American customers," said Squaremouth spokesperson Rachael Taft. "However, travel to popular international destinations, including Mexico and Canada, is growing at a much greater rate than domestic travel."
Growth Among Top 5 Destinations for U.S. Travelers
- United States (+11.3%)
- Mexico (+20.3%)
- Italy (+21.5%)
- Canada (+43.3%)
- United Kingdom (+14.7%)
Includes percentage change in American customers purchasing travel insurance over the previous year
Domestic Travel Spending Increases Despite Slower Growth
Of the top 10 destinations for U.S. travelers, only France and Germany experienced slower growth rates than the United States. Overall, the percentage of U.S. residents buying travel insurance policies for domestic trips compared to those buying policies for international trips has decreased for three straight years. The average trip cost for domestic travel, however, is steadily increasing.
Table 1: Squaremouth Customers Traveling Within United States
| % of Total Travelers* |
Average Trip Cost |
|
| 2016 |
13.1% |
$3,370 |
| 2015 |
13.7% |
$3,174 |
| 2014 |
13.9% |
$2,874 |
| 2013 |
14.2% |
$2,802 |
| 2012 |
13.2% |
$2,943 |
| *Represents percentage of American Squaremouth customers buying travel insurance for a trip in the United States |
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U.S. Travelers Show Increased Concern About Terrorism
The number of Americans searching specifically for Terrorism coverage when purchasing a travel insurance policy for domestic travel more than doubled year-over-year.
- 127% increase in customers searching specifically for Terrorism coverage for domestic travel using Squaremouth's "Terrorism" filter
- The percentage of domestic travelers searching specifically for Terrorism coverage is still below the percentage for international travelers, which nearly tripled this year
Summer Travel Dominates Other Seasons
Summer remains the most popular season for domestic travel. Squaremouth customers spent more than $11.6 million on domestic trips this summer, nearly totaling the amount they spent on domestic travel during the previous three seasons combined.
- 23% increase in the number of Americans that traveled domestically this summer compared to Summer 2015
- 17% of Squaremouth customers who traveled this summer took domestic trips
Table 2: Domestic Travel During Each Season
| Total Spent in Season |
Average Trip Cost |
Share of Annual Domestic Travel |
|
| Fall 2015 |
$3,765,712 |
$2,651.91 |
17% |
| Winter 2015/16 |
$4,185,705 |
$2,712.71 |
21% |
| Spring 2016 |
$4,153,830 |
$2,637.35 |
20% |
| Summer 2016 |
$11,629,351 |
$3,905.09 |
42% |
| Methodology: Data is based on American customers insured on travel insurance policies purchased through Squaremouth prior to 9/15/16. Annual numbers are based on sales between 9/15 of the previous year and 9/15 of that year. Statistics reflect year-over-year changes unless otherwise noted. |
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ABOUT SQUAREMOUTH
Squaremouth compares travel insurance policies from every major travel insurance provider in the United States. Using Squaremouth's comparison engine and third-party customer reviews, travelers can research and compare insurance products side-by-side. More information can be found at www.squaremouth.com.
Available Topic Expert:
Rachael Taft
[email protected]
(727) 264-5174
SOURCE Squaremouth