Current:Home > reviewsRekubit Exchange:From family road trips to travel woes: Americans are navigating skyrocketing holiday costs -WealthMindset Learning
Rekubit Exchange:From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
FinLogic FinLogic Quantitative Think Tank Center View
Date:2025-04-11 00:57:18
People are Rekubit Exchangeshelling out more to travel the holiday road this season.
About a third of Americans are planning to travel more this winter than in 2023, according to an October survey by rental fleet management company Zubie. And compared to last year, those travelers are shelling out more for their getaways.
A report from travel insurance marketplace Squaremouth found that travelers are spending over 50% more for trips between Thanksgiving and the end of the year. This year, the average trip cost for Americans was about $5,861, an increase of 25% compared to 2023.
While Americans aren't avoiding travel as they look to limit spending, some are changing what sort of trips they plan. More Americans are taking multigenerational family trips or group trips, while others are choosing "bucket list" destinations, opting to take bigger and longer trips over fewer, smaller ones.
Travel disruptions, such as severe weather, flight delays or cancellations, lost luggage or rental car issues, also contribute to the rising spending costs. While more purchased travel insurance for their trips earlier on average than last year, travel insurance claims also rose by 18% in 2024. Canceled trips accounted for most of the claims, with medical emergencies and delays being the other two common reasons.
Enjoy your worry-free vacation:Best travel insurance policies
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (63)
Related
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- College Football Playoff predictions: Projecting who would make 12-team field after Week 6
- Awaiting Promised Support From the West, Indonesia Proceeds With Its Ambitious Energy Transition
- As Trump returns to Butler, Pa., there’s one name he never mentions | The Excerpt
- Trump wants to turn the clock on daylight saving time
- Jury selection begins in murder trial of Minnesota man accused of killing his girlfriend
- Aw, shucks: An inside look at the great American corn-maze obsession
- Matthew Broderick Says He Turned Down SATC Role as the Premature Ejaculator
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- US disaster relief chief blasts false claims about Helene response as a ‘truly dangerous narrative’
Ranking
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- Week 6 college football grades: Temple's tough turnover, Vanderbilt celebration lead way
- Jeep Wrangler ditches manual windows, marking the end of an era for automakers
- Helene costs may top $30 billion; death toll increases again: Updates
- Intel's stock did something it hasn't done since 2022
- 'I have receipts': Breanna Stewart emotional after Liberty get revenge over Aces
- Olivia Munn Details Journey to Welcome Daughter Méi Amid Cancer Battle
- Sister Wives’ Kody Brown Leaves His and Wife Robyn Brown’s Home After Explosive Fight
Recommendation
IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
Celine Dion makes rare appearance during Steelers vs Cowboys game promo
Olivia Munn Details Journey to Welcome Daughter Méi Amid Cancer Battle
Aw, shucks: An inside look at the great American corn-maze obsession
Dick Vitale announces he is cancer free: 'Santa Claus came early'
Tropical Storm Milton could hit Florida as a major hurricane midweek
Guster, Avett Brothers and Florence Welch are helping bring alt-rock to the musical theater stage
Inside Daisy Kelliher and Gary King's Tense BDSY Reunion—And Where They Stand Today