'Tis the Time to Travel: InsureMyTrip Reports on Average Travel Costs This Holiday Season

WARWICK, R.I., Dec. 20, 2023 /PRNewswire/ -- A record number of travelers are expected this holiday season, and according to data from InsureMyTrip, they will be paying more than last year.

The Federal Aviation Administration (FAA) predicts most travelers will take off on December 21, 2023 – with nearly 49,000 flights taking off on the Thursday before Christmas. So, where are they headed? 

Top 5 Holiday Vacation Destinations:

1. United States
2. Mexico
3. Dominican Republic
4. United Kingdom
5. Costa Rica

Top 5 Holiday Cruise Destinations:

1. Bahamas
2. Mexico
3. Caribbean
4. Antarctica
5. United States

While travel costs are up across the board this year, travelers will find it's cheapest to vacation domestically – unless you're taking a cruise. 

InsureMyTrip is breaking down the average travel costs for policyholders this holiday season.

Domestic Land Vacation Costs:

• The average domestic land vacation is up just 1% over last year.
• In 2022, the average cost was $4,303.
• For 2023, a domestic trip will cost an average of $4,355.

Domestic Cruise Vacation Costs:

• The average cost of a domestic cruise is up 34% over 2022.
• In 2022, a domestic cruise cost $3,755.
• For 2023, a domestic cruise will cost an average of $5,043.

International Land Vacation Costs:

• The average cost of an international land vacation is up 26% this year.
• In 2022 an international trip cost $5,876
• For 2023, an international land vacation will cost an average of $7,402.

International Cruise Vacation Costs:

• The average cost of an international cruise vacation is up 20%.
• In 2022, an international cruise cost $5,655.
• For 2023, an international cruise will cost an average of $6,804.

Our travel insurance experts are available for interview regarding deeper insights, trend analysis, or to explore the best travel insurance options for your holiday plans.

Media Contact:
Meghan Kayata
[email protected]

*Methodology: InsureMyTrip analyzed travel insurance policies sold for trips departing between December 21, 2022 – January 1, 2023, and December 21, 2023 – January 1, 2024. 

About InsureMyTrip

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SOURCE InsureMyTrip