Hopper and InsureMyTrip data teams report an increase in travel to Europe this summer. Researchers also found what airports offer the most savings and how the latest data trends can aid travelers when comparing travel insurance benefits.
PRICING FOR EUROPEAN TRAVEL DRIVING SPIKE
Travel to Europe is more affordable this summer due to a strong US dollar. Currently, the US dollar buys about 20% more foreign currency in many countries.
“With the strong US dollar, it is not surprising to find more Americans booking trips to Europe and taking advantage of a bargain,” says Cristian Potter, data scientist at InsureMyTrip.
Flight prices may also drop due to competition with foreign air carriers as well as cheaper oil.
MOST POPULAR DESTINATIONS: UK, FRANCE, ITALY
This list shows the most popular European destinations for this summer (June 2015 – August 2015). Results were based off customer data at InsureMyTrip.
BEST TIME TO FLY TO EUROPE
Booking flights for the right locations at the right times, you can save as much as $600 per ticket, according to the latest research from Hopper.
Advanced purchase can also save travelers money on travel as prices increase as the departure day nears.
On average, same day tickets from the US to Europe cost $1,173 and the price drops down to $1,042if purchased between 60 and 179 days in advance.
Best day to buy is Tuesday
Best day to depart is Tuesday
Worst day to return is Saturday
“In general, high-season travel means booking early is your best bet for big savings, but you don’t want to book too early and miss the best possible deal,” said Patrick Surry, chief data scientist at Hopper.
“To ensure you’re booking at the right time, we suggest downloading Hopper’s free app to get notified about the best time to book your specific trip.”
BEST TRAVEL INSURANCE TO EUROPE
InsureMyTrip says travelers can use data results provided by Hopper to make smarter choices about their travel insurance purchase.
“If you have several flight connections or if you are traveling through a busy airport, you may want to compare policies that have short travel delay benefit windows,” says Lynne Peters, InsureMyTrip’s Insurance Product Manager.
Travel delay benefits vary with each travel insurance provider. While the limit of coverage is important ($150-$300/day with a $300-$1600 maximum limit), travelers should look closely at the window required to trigger the benefit which is generally between 5 and 24-hours. The benefit is designed to provide reimbursement for reasonable meals and accommodations while unable to travel.
In addition to travel delay benefits, travelers can also use data to help compare the following benefits also available under comprehensive travel insurance plans:
- Trip Cancellation
- Trip Interruption
- Baggage Delay
- Cancel For Any Reason
METHODOLOGY FOR HOPPER:
The data presented in this analysis comes from Hopper’s combined feed of Global Distribution Service (GDS) data sources which includes about 10 million queries and 1 billion trips per day. Demand is represented as the number of queries not actual ticket purchases, and is calibrated across all GDS sources for each market.
METHODOLOGY FOR INSUREMYTRIP:
Research teams at InsureMyTrip reviewed all travel insurance policy purchases for the past 12 months. The raw data was then processed through a weighting program to insure the sample only reflected US customers that booked a trip to Europe during the months of June, July, and August of 2015.
InsureMyTrip compares travel insurance products from the most trusted providers in the industry.
InsureMyTrip’s powerful unbiased comparison engine and thousands of customer reviews enable travelers to quote and buy the right travel insurance plan. The site is supported by award winning customer service and travel insurance agents licensed in all 50 states.
InsureMyTrip travel insurance experts are featured in national publications including Los Angeles Times, New York Times, Washington Post, and Travel + Leisure.
Hopper provides insightful, data-driven research to help travelers make better decisions about where to go, and when to fly and buy. The Hopper app analyzes billions of flight prices a day to provide advice on when to fly and buy – saving travelers as much as 40% on their flight.
Hopper was founded in 2007, is based in Boston and Montreal, and is backed by Brightspark, Atlas Venture and OMERS Ventures.
Photo courtesy of HomeAway.
To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/insuremytrip-and-hopper-research-show-spike-in-travel-to-europe-this-summer-300067815.html