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Recession fuels gap year travel insurance sales

19 March 2009 08:26

Recession fuels gap year travel insurance sales

A surge in gap year travel insurance sales indicates that more people are taking extended breaks abroad as unemployment figures rise.

That is according to the Daily Mail, which suggests that backpacking travel insurance providers have seen a massive surge in business during the last 12 months.

Citing statistics from American Express, the newspaper suggested that sales of gap year travel insurance have nearly doubled for those between 30 and 50 years of age since August.

Lauren Mackay, brand manager for travel company Gap Year for Grownups, also suggested to the Daily Mail that there has been a noticeable rise in the number of older people booking longer trips abroad.

"They are people who have been made redundant and have decided to go travelling rather than try to find a job," she said.

In February, ABTA - the Travel Association suggested that holidaymakers are now looking further afield when they book their vacations.

The relative weakness of the pound versus the euro means that many people find their money has more power in non-eurozone destinations.ADNFCR-1320-ID-19080148-ADNFCR