ANTARCTICA, Australia (AP) Travel insurance company Avis Worldwide Inc. said on Thursday that the Australian dollar’s value has risen sharply in recent months as an increase in demand from Australians for their products led to an overall increase in its costs.
The travel insurance company said that over the past year, average annual cost for the premium for a one-way ticket in Australia has been about $1,800 and for a two-way trip, it’s been about three times that amount.
It said the higher average price reflects an increase of more than $50 in travel costs for both of those trips.
While most Australians travel overseas, Avis said its travel insurance products cover a broad range of international destinations.
It’s possible that a number of its products cover some of the world’s most expensive destinations.