Squaremouth Report: Travel Insurance Sales for Canada Spike in 2016
ST. PETERSBURG, Fla., Oct. 24, 2016 /PRNewswire/ -- Travel to Canada is growing at a faster rate than any other popular destination, according to sales data from leading travel insurance comparison site Squaremouth.
"We've seen a huge increase in customers traveling to Canada this year, especially this summer," said Squaremouth spokesperson Rachael Taft. "Canada has become the third most popular international destination for American travelers, a spot previously held by France."
American Travelers Staying Closer to Home
Despite relatively stagnant growth in domestic travel, North American destinations are on the rise. Of the top 10 international destinations among Squaremouth customers, Canada and Mexico experienced the greatest growth in American travelers in 2016.
- Canada's 41% year-over-year growth rate was nearly double the next fastest-growing top destination, outpacing Mexico's 23% increase
- The United States' year-over-year growth rate was 12%
Table 1: Squaremouth Customers Traveling to Canada
| Growth in Number of Travelers |
Average Trip Cost |
|
| 2016 |
41% |
$2,649 |
| 2015 |
18% |
$2,466 |
| 2014 |
23% |
$2,477 |
| 2013 |
26% |
$2,638 |
Top International Destination for Summer Travel
Canada was the top international destination for American travelers this summer, overtaking popular European destinations with a 70% increase over the previous summer, according to a Squaremouth summer travel report.
- U.S. residents insuring their trips to Canada spent 71% more during the summer of 2016 than in the other three seasons combined
Table 2: Seasonal Travel to Canada
| Total Spent in Season |
Average Trip Cost |
Share of Annual Travel To Canada |
|
| Fall 2015 |
$1,664,774 |
$2,921 |
24% |
| Winter 2015 |
$236,519 |
$833 |
3% |
| Spring 2016 |
$655,355 |
$1,447 |
10% |
| Summer 2016 |
$4,380,783 |
$2,976 |
63% |
Methodology: Data is based on American customers insured on travel insurance policies purchased through Squaremouth prior to 10/12/16. Annual numbers are based on sales between 10/12 of the previous year and 10/12 of that year. Statistics reflect year-over-year changes unless otherwise noted.
View full Squaremouth Report: Travel Insurance Sales for Canada Spike in 2016
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
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