International Event Travel Booms Despite Rising Costs, Squaremouth Reports
Whether it's tickets to Taylor Swift's European Tour or an all-access pass to the Paris 2024 Olympics, more travelers are booking international trips to ticketed events in 2024, despite increasing travel prices.
New customer survey data from Squaremouth, the nation's leading travel insurance marketplace, highlights the top trends in ticketed event travel and offers essential travel insurance tips for safeguarding your trip investment.
Travelers heading to the Paris Olympics are spending an average of $8,245 on their trips, a 67% increase from the previous Olympic Games in Tokyo. Despite these surging trip costs, travel demand for the Olympics remains strong, with the number of travelers insuring trips to the Olympics up over 900% compared to 2021.
Among travelers attending ticketed events this year, 79% are opting for fully comprehensive policies with cancellation and medical benefits. Comprehensive travel insurance policies can reimburse up to 100% of a traveler's trip costs if they need to cancel their trip for a covered reason, such as a medical emergency, travel delays, lost luggage, and other common travel disruptions.
Of the Squaremouth users traveling for international events this year, 27% are attending concerts, and 25% are opting for an Olympic or sporting event. Only 15% of travelers are interested in traveling for a theater event or play.
For those planning to travel to a ticketed event in 2024, Squaremouth recommends the following tips: protect your trip expenses with comprehensive travel insurance that offers cancellation coverage in case of delayed flights, inclement weather, or other major travel disruptions.
Obtain overseas medical coverage, as many primary healthcare plans do not cover medical expenses outside the US. Finally, stay organized and keep all documentation, including travel details, ticket receipts, booking confirmations, and communications with travel suppliers, to facilitate the claims process if necessary.
