Surge in International Event Travel Despite Rising Costs, Reports Squaremouth
ST. PETERSBURG, Fla., June 26, 2024 — 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, and travel prices are only going up.
New customer survey data* from Squaremouth, the nation’s leading travel insurance marketplace, reveals top ticketed event travel trends and shares key travel insurance tips for protecting your trip investment.
Olympic Games See a Record Resurgence
Travelers heading to the Paris Olympics are spending an average of $8,245 on their trips, up 67% from the previous Olympic Games in Tokyo. These surging trip costs aren’t slowing down travel demand to the Olympics. The number of travelers insuring trips to the Olympics this year is up over 900% compared to 2021.
Travelers are Protecting Their Ticket Costs
Of the travelers taking ticketed event trips 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.
Live Music and Sporting Events Take Gold
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.
Top Tips for Event Travel in 2024
If you plan on traveling to a ticketed event in 2024, Squaremouth recommends the following tips:
- Protect Your Trip Expenses: Comprehensive travel insurance provides valuable cancellation coverage if you can no longer take your trip or make your event due to a delayed flight, inclement weather, or other major travel disruptions.
- Get Overseas Medical Coverage: Many primary healthcare plans don’t offer coverage outside the US. If your event is abroad, travel medical insurance can provide coverage in case of an emergency during your trip.
- Stay Organized and Keep All Documentation: In the event you need to file a claim with your insurance provider, you will need to provide specific evidence and documentation, including travel details, ticket receipts, booking confirmations, and travel supplier communications.
*Squaremouth polled more than 3,500 customers regarding their upcoming trip to determine the popularity of ticketed event travel among travelers buying travel insurance. The survey was sent to all Squaremouth customers between 06/07/2024 and 06/21/2024.