Travel insurance marketplace Squaremouth has released new customer survey data highlighting a significant increase in international travel bookings for ticketed events in 2024, despite rising travel costs.
A survey of over 3,500 Squaremouth customers asking about future travel found that more travelers are choosing international destinations for events such as Taylor Swift's European tour and the 2024 Paris Olympics.
The average spend for a trip to the Paris Olympics soared to $8,245, a 67% increase compared to the Tokyo Olympics. Squaremouth also noted that there has been a significant increase in travelers taking out travel insurance, up 900% from 2021 to this year.
79% of travelers heading on a ticketed event vacation in 2024 will purchase comprehensive travel insurance to keep their trip safe. These policies offer cancellation and medical benefits and may cover up to 100% of trip costs for covered reasons, including medical emergencies, trip delays and lost baggage.
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Of Squaremouth users who will travel for international events in 2024, 27% will attend concerts, while 25% choose the Olympics or sporting events. In contrast, only 15% expressed interest in theatrical events or plays.
Squaremouth insights are based on customer surveys conducted between June 7, 2024 and June 21, 2024.
Editor's note: This article was created by AI based on a press release distributed by Squaremouth and reviewed by editors at TravelAge West.
