Summer 2024 travel trends: Gen Z spends, Europe reigns

Analysing US traveller spending data from thousands of travel insurance policies purchased for trips this summer, Squaremouth has revealed the top summer travel spending trends of 2024, and considers which top locations are the most wallet friendly. 

Over 75% of summer travellers are heading abroad 

In 2024, 77% of travellers booking summer trips through Squaremouth are heading abroad. These destinations come with a high price tag, as international trips have an average trip cost of over US$9,000, compared with just over $7,000 for domestic trips. 

Top 10 international summer destinations for US travellers in 2024

UK 6.38%

Italy 6.25%

Canada 5.17%

France 3.47%

Greece 2.81%

Germany 2.39%

Iceland 2.37%

Ireland 2.34%

Norway 2.33%

Spain 2.23%

Gen Z spending the most on travel

According to research, all generations are spending more on trips this summer, with trip costs rising an average of 36% compared with 2023. 

However, Gen Z is spending an average of $11,766 per trip, surpassing all other generations for the first time in four years. While millennials are spending the least on travel this year, their year-on-year spending has increased the most by almost 50%.

Yonder Travel Insurance, a US comparison site, recently analysed customer data to uncover travel trends for summer 2024.