Interest for European vacations is "skyrocketing" among Canadian travellers as border restrictions ease across the continent, according to a new report from insurance company RATESDOTCA.
Data was gathered from the RATESDOTCA travel insurance quoter tool from Q1 2021 to Q1 2022, to examine how the most popular travel destinations changed throughout the pandemic, among other trends.
Interest in Europe
Overall, RATESDOTCOM found that Europe is the second most popular continental destination for Canadians next to North America. Many European countries dropped travel restrictions for non-EU travellers in MAR, which the insurance company says may explain the spike in interest.
According to the data, the top 10 Europe destinations Canadians are interested in 2022 are:
- United Kingdom
- Portugal
- France
- Italy
- Spain
- Germany
- Ireland
- Greece
- Turkey
- Switzerland
At number one, the U.K. saw a 1,832 per cent increase in travel insurance quotes in Q1 2022 compared to Q1 2021. Italy saw the most drastic surge in interest, with a 2,933 per cent increase in quotes year over year.
The insurance company also notes extra spending money from cash saved over the pandemic and possible promotions on flights or vacation packages may be motivating cross-Atlantic travel. Canadians may also be starting to feel more confident about travelling farther from home as the world recovers from the COVID-19 pandemic.
Travel Interest Up Among All Generations
According to RATEDOTCA data, travel interest is up across all age groups, particularly among Generation Z. On the other hand, Millennials, or those currently between the ages of 26 and 41, are displaying an increased interest in travel - but the lowest out of all generations.
| Generation* | Percentage increase year over year (Q1 2021 to Q1 2022) |
|---|---|
| Silent generation (born 1928-1945) | +932% |
| Baby boomer (born 1946-1964) | +1,062% |
| Generation X (born 1965-1980) | +1,199% |
| Millennial (born 1981-1996) | +722% |
| Generation Z (born 1997-2012) | +1,608% |
*Generations as defined by the Pew Research Center.
Interest in All Travel Insurance Plan Types Rises
Additional RATESDOTCOM data shows a "significant" year-over-year increase in quotes across all travel insurance plan types.
| Plan type | Percentage increase year over year (Q1 2021 to Q1 2022) |
|---|---|
| All-inclusive | +1,032% |
| Annual | +1,229% |
| Single | +994% |
| Trip cancellation | +1,175% |
“Travellers have more knowledge of what to look for and what insurance needs they may have,” said Louiselle Landry, business development manager for TuGo, a Canadian-owned travel insurance company. “I think we will continue to see people wanting to get more than just medical insurance as they might have done previously.”
“Before [COVID], the focus was often on premium,” said Landry. “But we’re starting to see that people have a bit more awareness that travel insurance goes beyond that. People are now looking into what they are purchasing, and making sure they have the proper coverage to have that peace of mind when they’re travelling.”
