Quite a bit of money was spent by American luxury travelers this year, with the average individual travel cost to the most expensive destinations for this type of travel in 2024 topping $16,000, an amount that is 3.4 times more than the average traveler spent. These are some of the key findings of new research by US travel insurance specialist, Squaremouth, which also revealed the world’s most expensive destinations for luxury travellers in 2024.
According to the survey findings, this year, the top 10 luxury travel destinations saw an increase in spending, with trips to Africa, Antarctica, the French Antarctic Territories and the Oceania Islands reaching new cost highs.
More than 15,000 travellers spent more than $82 million to visit the top 10 destinations, with a 43% increase in spending compared to 2023. The average cost per trip to these luxury locations was more than $16,000, 3.4 times higher than the average traveler’s spending this year.
Rising costs and changing travel trends
Despite the allure of these costly destinations, high travel costs have begun to discourage some travellers. Tourism to these high-cost destinations declined by 27% in 2024, while destinations with average travel costs below $6,000 saw an 18% increase in travel.
Africa dominates as the most expensive destination
For more than 15 years, Africa has consistently ranked as one of the most expensive travel destinations. This year, Djibouti, Botswana, Zimbabwe, Central African Republic and Tanzania were the five most expensive countries in Africa to visit.
Djibouti saw the biggest increase in costs, more than tripling from the previous year, making it the most expensive destination on the continent.
The value of travel insurance for expensive travel
Travelling to these expensive destinations means investing heavily in both experiences and travel insurance. The average premium for travel insurance in the 10 most expensive destinations was $841, 4% lower than in 2023. Despite the high cost of travel, the cost of insurance was only 6.4% of the average trip price, making it a smart investment for travelers.
The 10 most expensive destinations of 2024
| Country | Average cost of travel |
|---|---|
| Djibouti | $28,594 |
| Botswana | $18,734 |
| Antarctica | $17,599 |
| South Georgia and the South Sandwich Islands | $16,455 |
| Zimbabwe | $15,637 |
| Central African Republic | $14,960 |
| Tanzania | $14,229 |
| French Southern Territories & Antarctic Territories | $14,066 |
| Namibia | $13,550 |
| Kenya | $13,113 |
