As inflation continues to moderate, a new survey from Nationwide Travel Insurance shows U.S. consumers are optimistic about their travel plans in 2024 – right as spring break travel planning ramps up. Nearly all surveyed (91%) say they have plans to travel domestically in 2024, with four in 10 (40%) planning to travel more than they did in 2023. Additionally, half (50%) of consumers are planning to travel internationally this year.
Regardless of where they’re going, consumers are already thinking about how they’ll get to their travel destinations. Taking a road trip by car is the most likely mode of transportation (30% already have plans to do this and 60% say they are likely to). Flights are still popular, with nearly a quarter of people (22%) planning to travel by air (with an additional 46% saying they are likely to fly). Additionally, cruises may see a resurgence – while only 6% of consumers have already planned a cruise, almost a third (29%) say they are likely to take one in 2024.
However, while consumer travel is projected to rebound or even surpass pre-pandemic levels, half (51%) of consumers are still concerned about a resurgence of Covid-19 impacting their travel plans. Other top concerns for traveling this year include:
- Weather-related delays or cancellations (54%)
- Technology issues (38%)
- Unruly fellow travelers (37%)
- Employee strikes (25%)
“It’s encouraging to see another potentially strong year for travel as consumers continue to bounce back from the pandemic-era. However, the past few years have taught us the next disruption may be around the corner and we must plan for the unexpected,” said Syed Rizvi, leader of Nationwide’s travel insurance business. “With so many factors that can disrupt a trip today, it’s important for consumers to invest in travel insurance to protect their peace of mind and finances.”
Gaps in understanding the benefits and value of travel insurance
While consumers are concerned about travel disruptions, most…
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