According to the fine folks at travel insurance tech company Squaremouth.com, there will be fewer travelers than expected for Labor Day 2022.
What does that tell us about the state of travel? Well, it depends on how you look at it.
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Squaremouth offered up three trends for Labor Day that give a snapshot of how Americans feel about travel now and how that could affect travel plans going forward. And according to the company, with Labor Day looming in two weeks, travel bookings for the holiday are down 30 percent.
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Fluctuating Gas Prices
So far, gas prices have continued to come down from the peak of $5 a gallon in some places as the summer began.
Gas prices and airline fuel prices passed on to passengers in airfares were two reasons why Squaremouth found that more than half the travelers it insured spent more money on travel this year than last.
Flight Delays
Travelers are rightfully expressing major concerns about the stories that have permeated the news about delays and cancellations of flights throughout the spring and summer, not to mention massive congestion at airports and lost luggage.
Squaremouth reports a 92 percent increase in Labor Day travelers looking for “Travel Delay” coverage, as well as 24 percent increase in “Cancel For Any Reason” searches.
Affordability
This could be considered a notch on the plus side of the pro and con list.
Labor Day weekend travelers are spending almost 60 percent less than trips scheduled throughout most of the year, with the average trip cost around $2,400.
