With summer well underway, travelers are experiencing what could be the most expensive summer travel season but they are still vacationing.

Here are the top places that vacationers are visiting this summer as the season winds down.

Inflation Leads to Record Traveler Spending

In a recent survey of over 4,000 travel insurance customers, 73% of respondents said that they were more concerned or equally concerned about protecting their trip costs this summer compared to previous years.

With more than half of surveyed travelers stating they’re having to spend more on travel, Squaremouth reports the highest average trip cost in company history. So far this summer, travelers are spending more than $7,800 on average per trip.

The cost of international travel, specifically, is up 25% from last year, leading many travelers to seek out more affordable destinations.

Most Affordable Summer Destinations in 2023

As the cost of travel continues to rise, Squaremouth’s data reveals that travelers are actively seeking out more affordable destinations this summer. This year, 7 out of the top 10 most popular destinations have trip costs below the overall season average.

Below are the most affordable destinations based on insured trip costs:

Destination

Average Trip Cost

Colombia

$3,344

Mexico

$3,878

Puerto Rico

$3,907

Bermuda

$4,479

Dominican Republic

$4,497

Bahamas

$4,658

Jamaica

$4,698

Aruba

$4,917

Vietnam

$5,181

Philippines

$5,330

Not All are Cheap

Not all destinations are budget-friendly. In December, Squaremouth revealed the most expensive destinations of 2022, which featured destinations that cost travelers up to $32,000 on average.

Methodology
Squaremouth Analytics compared travel insurance policy sales for trips purchased before July 10 with travel dates between June 21 and September 23 of 2022 and 2023.

Source: Squaremouth