Squaremouth says Labor Day weekend travel bookings are currently down 30% compared to last year.
ST. PETERSBURG FLA. – Less travelers are gearing up for Labor Day travel this year, according to travel insurtech company Squaremouth.com.
The travel industry has struggled to keep up with current demand for the majority of the summer – a peak time for travelers to test their luck amid flight delays, cancellations and labor shortages.
Here are three Labor Day travel trends that offer a good indication of how Americans are viewing travel.
Gas Prices, Travel Delays Could Lead to Less Travel
Squaremouth says Labor Day weekend travel bookings are currently down 30% compared to last year.
One reason could be the rising gas prices, as it is historically a popular driving weekend. Coupled with ongoing airline issues, travelers may be more inclined to stay home.
Earlier this year, over half of Squaremouth travelers reported spending more this year compared to years past, with the majority attributing the increase to inflation and the rising cost of travel.
The Labor Day travel decline could also be a result of bigger trips earlier in the year. Year-to-date, Squaremouth reports 250% more trips scheduled between January and August of this year, compared to 2021.
Travelers Are Concerned About Flight Delays
Of travelers who choose to fly, the majority indicate concerns over flight cancellations and delays.
Squaremouth reports a 92% increase in Labor Day travelers looking for “Travel Delay” coverage, as well as 24% increase in “Cancel For Any Reason” searches.
Travelers Focus on Affordable Trips
Labor Day weekend travelers are spending almost 60% less than trips scheduled throughout the majority of the year, with the average trip cost around $2,400.
Despite the ongoing airline complications, Squaremouth reports a 50/50 split between travelers going abroad and staying stateside, signaling the strong return of international travel post-pandemic.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
