As we approach the Spring Break period, conditions (economic and otherwise) are quite different to those in years past, with travel for the mid-term hiatus from school expected to be busier and more expensive than before.
Travel insurtech company Squaremouth delved into data on current trip costs, traveler spending and the most popular destinations for Spring Break, and shared its insight into what travelers can expect to see during the upcoming vacation period.
By analyzing its propriety data of travel insurance policy sales for trips during this time period, Squaremouth discovered the emergence of four new Spring Break travel trends.
Higher Price Tags on Spring Break Travel
The study found that the average cost of an insured trip scheduled for the Spring Break travel period has increased 3.4 percent over last year, rising from $5,420.81 in 2022 to $5,606.05 in 2023. It also revealed that the average amount Spring Breakers are spending on travel insurance has grown, going from $353.69 per policy in 2022 to $378.05 in 2023.
This year’s most expensive Spring Break destinations are:
Antarctica: $12,216.27 average trip cost
Tanzania: $11,600.83 average trip cost
Ecuador: $10,914.51 average trip cost
Peru: $9,682.17 average trip cost
South Africa: $8,879.17 average trip cost
Caribbean Islands a Favorite Among Families
The Caribbean seems to be beckoning to families this Spring Break season, with Turks and Caicos, the British Virgin Islands, and the Cayman Islands being the three most sought-after spots among travelers with kids.
Unfortunately, the price of the average trip to these three destinations has risen 29 percent since this time last year, from $5,460.50 in 2022 to $7,038.74 in 2023. The breakdown by individual destination is below.
|Destination||Average Trip Cost 2023||Average Trip Cost 2022|
|Turks and Caicos||$8,331.33||$5,583.79|
|British Virgin Islands||$8,102.95||$6,192.03|
More Travelers Drawn To Distant Destinations
Several far-flung destinations are seeing a notable increase in the number of Spring Break travelers set to arrive this year, compared to last.
The top five destinations with the biggest increase in Spring Break bookings via Squaremouth are:
New Zealand (+2,556 percent)
Vietnam (+1,875 percent)
Japan (+537 percent)
Indonesia (+368 percent)
Antarctica (+258 percent)
Israel Makes a Post-Pandemic Comeback
For the first time since pre-pandemic 2019, Israel ranks among the top five insured trip destinations for travel during the Spring Break period. Squaremouth reported that it has seen a remarkable 119-percent increase in sales for the Middle Eastern nation over last year’s figures.
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