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Impact of vaccine rollout already felt on travel: report
ST. PETERSBURG, Florida, February 21, 2021
In the first two months since the Covid-19 vaccine rollout began, the impact on traveller trends can already be seen, says travel insurance aggregator, Squaremouth.
At the onset of the pandemic, Squaremouth reported an almost immediate drop-off in senior-aged travellers. The company noted their average traveller age dropped from 50+ to 38 years old, a statement said.
In the two months following the initial vaccine efforts, Squaremouth says they are already seeing senior travellers bounce back.
"Early on in the pandemic and prior to the vaccine, we saw younger travelers comprising a larger market share, as the percentage of senior travelers dropped," says Squaremouth Lead Data Analyst, Steven Benna. "Now, our data shows the traveler market is beginning to shift back to what it was before."
Rebound in Travel for Seniors
Amid the rollout of the vaccine, Squaremouth reports an increase in the percentage of travellers in every age group over 60. During that same span, the percentage of travellers in each age group under 60 has respectively decreased, marking a significant shift from earlier in the pandemic.
Travelers Buying Insurance Earlier
As senior travellers are regaining their willingness to travel, Squaremouth notes a trend in travellers planning further ahead.
The average traveller is buying their travel insurance policy 74 days before they depart for their trip. Prior to the vaccine, travellers were buying their policies an average of 42 days ahead of time.
Squaremouth maintains a large portfolio of travel insurance products that offer coverage related to the Covid-19 pandemic, including cancellation and emergency medical benefits for contracting the virus, and Cancel For Any Reason coverage.
Squaremouth.com hosts the largest number of travel insurance providers and policies that offer coverage related to the Covid-19 pandemic. Squaremouth Analytics has compared thousands of travel insurance policies purchased pre-and-post-pandemic to identify changes and trends in travel insurance, the statement said. - TradeArabia News Service
