Res-Capades of the Recession

The recession has given rise to a new kind of traveler, and a word for him (or her): the res-caper. In a study conducted by a U.S.-based travel Web site, it emerged that around a fifth of the people who lost their jobs because of the recession are planning extended trips abroad with Australia being a top choice.

These ‘res-capers,’ who travel internationally for various reasons, including trying to beat the recession, will spend $622 million on their international travel. About a quarter of the res-capers will use their severance package to fund their trips. However, an international travel insurance policy is not a nice-to-have for the res-caper; it is an absolute necessity. Traveling without international travel health insurance or a job can be disastrous.

British res-capers are also likely to be away for a longer period, around three months, with one in 20 going in for year-long international trips. Australia emerged as the top destination for res-capers from the United Kingdom, with the United States coming in second.

While this is great news for the travel industry, and also a great way to unwind or chase those dreams left unfulfilled, one must remember that traveling without international insurance when also out of a job is an extremely risky proposition. No one should have to find that out the hard way.