Cision PR Newswire

ST. PETERSBURG, Fla. , Nov. 14, 2024 /PRNewswire/ -- With 2024 coming to a close, Squaremouth.com, the nation's leading travel insurance comparison site, is revealing where luxury-loving travelers spent their money in 2024 and which destinations were the most costly. 

Trips to Africa, Antarctica, French Antarctic Territories, and the islands of Oceania cost the most. This year, travelers spent 34% more on trips to these 10 destinations compared to any other countries.

Travelers Spend Millions on Most Expensive Destinations

• Over 15,000 travelers spent over $82 million to visit the 10 most expensive destinations.
• This year, Squaremouth saw a 43% increase in spending to expensive destinations compared to 2023.
• The average individual trip cost to these destinations in 2024 was just over $16,000 – 3.4x more than the average traveler spent this year.

Rising Costs Are Dissuading Travelers

• High travel costs to these destinations have affected traveler behavior, with tourism to these locations down 27% in 2024. 
• Travel to destinations with an average trip cost of under $6,000 in 2024 has increased 18% over last year. 

Africa Remains Most Expensive Destination
For more than 15 years running, nearly half of the most expensive trips were to African nations.

• Djibouti, Botswana, Zimbabwe, Central African Republic and Tanzania were the five most expensive African countries to visit.
• Djibouti has the highest trip cost increase of the most expensive destinations, more than tripling over last year.

Top 10 Most Expensive Destinations of 2024

Travel Insurance Remains a Smart Investment for High-Cost Destinations
When compared to the steep price of the world's priciest travel spots, travel insurance continues to be a low cost investment for travelers. 

• The average travel insurance premium for the top 10 most expensive destinations was $841, down 4% from premium averages for 2023 top expensive destinations.
• The cost of insuring a trip to the most expensive destinations in 2024 was only 6.4% of the average trip price.

About Squaremouth: Squaremouth.com has insured over 3 million travelers. Using Squaremouth's intuitive quoting and comparison engine, award-winning support team, and verified customer reviews, travelers can save time and money to find the best travel insurance policy for their trip.

Available Topic Expert: Jenna Hummer is available for comment and interview. jhummer@squaremouth.com

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SOURCE Squaremouth