Squaremouth Report: Travel Insurance Sales for Canada Spike in 2016

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Oct 24, 2016, 02:45 ET

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