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Summer vacation confidence at all-time high In 2024

Monday, June 17, 2024 — 12:40:00 (EDT)

RICHMOND, Va., June 17, 2024 /PRNewswire/ -- Americans are doubling down on their travel plans this year as confidence in taking a summer vacation continues to rise, reveals Allianz Partners USA's 16th Annual Vacation Confidence Index*. Marking a four-year upward trend, summer getaways are top of mind with six in ten (62%) Americans intending to book a summer trip of 100 or more miles away from home for at least a week in 2024 (up one point from 2023 and an impressive 20 points since 2019).

Infographic 1: Summer Confidence

Infographic 2: Top Reasons

Infographic 3: Demographic Breakdown

"Americans are prioritizing what matters most to them this year, and that means putting in their summer PTO requests for some well-earned time off in their favorite destinations," said Daniel Durazo, director of external communications at Allianz Partners USA. "With more consumers confident in traveling this summer than ever before, before jetting off, it's important to consider purchasing a travel insurance policy to help protect those non-refundable, pre-paid payments against covered events like travel delays, lost luggage, or costly overseas medical emergencies."

Link to download Infographic 1: HERE

Now leading the upward trend, 35–54-year-olds are showing the highest amount of confidence in taking a summer vacation this year at a whopping 66% (up two points from last year). Also showing an increase in confidence are 58% of those in the 55+ population (up five points from last year), while summer confidence has decreased among younger Americans aged 18-34, who are citing 62% confidence (down five points from last year).

Of those confident in getting away, men express a higher certainty in taking a summer vacation (65%) compared to women (58%). Meanwhile, 73% of Americans with higher income-earning households (earning $100,000+ a year) are expressing confidence in a getaway. Not falling far behind, 65% of Americans with household earnings of $50,000 - $100,000 a year also expressed high confidence (up six points from last year), while for those earning less than $50,000, only 44% are anticipating summer travel (down four points from last year).

Link to download Infographic 2: HERE

Americans who are not confident in traveling this summer cited numerous factors as to why they are holding off on a trip. With inflation top of mind, it's no surprise that 62% of respondents who are not confident stated they "did not want to spend the money" (up five points from last year). Leading the response, 18-34-year-olds (67%, up 13 points from last year) cited not wanting to spend the money, aligning with the older demographics (35-54 at 67% and 55+, 54%) deciding to stay home this summer.

Although they were chosen as top reasons not to travel, "taking time off of work" (11%, down two points) and "not confident for another reason" (31%, down three points) both showed decreases from 2023, likely stemming from Americans' need to prioritize a work/life balance. Other reasons for lacking confidence included "personal obligation outside of work" (10%, up 3 points) and stressful planning or time constraints (7%, same YOY).

Link to download Infographic 3: HERE

The Vacation Confidence Index has been conducted each summer since 2009 by national polling firm Ipsos Public Affairs on behalf of Allianz Partners USA. A vacation is defined as a leisure trip of at least one week to a place that is 100 miles or more from home.

Allianz Partners offers travel insurance through most major U.S. airlines, leading travel agents, online travel agencies, hotel companies, cruise lines and directly to consumers. For more information on Allianz Partners and available travel policies, please visit www.allianztravelinsurance.com/.

*Methodology: These are the findings of an Ipsos poll conducted on behalf of Allianz Partners. For this survey, a sample of 2,010 Americans aged 18+ was interviewed from April 15 to 22, 2024 via the Ipsos Online Omnibus. The precision of Ipsos online polls is measured using a credibility interval. In this case, the results are accurate to within +/- 2.5 percentage points, 19 times out of 20, of what the results would have been had all American adults been polled. Quota sampling and weighting were employed in order to balance demographics and ensure that the sample's composition reflects that of the actual U.S. population, according to data from the U.S. Census Bureau. Credibility intervals are wider among subsets of the population.

About Allianz Partners

In the United States, Allianz Partners USA (AGA Service Company) offers Allianz Travel-branded travel protection plans and serves millions of customers each year. In addition to travel protection, the company offers event ticket protection, registration protection for endurance events and unique travel assistance services such as international medical assistance and concierge services. AGA Service Company is doing business as Allianz Global Assistance Insurance Agency in California (License # 0B01400) and Massachusetts. Allianz Partners USA is part of the Allianz Partners group. Allianz Partners is a world leader in B2B2C insurance and assistance, offering global solutions that span international health and life, travel insurance, mobility and assistance. Customer driven, our innovative experts are redefining insurance services by delivering future-ready, high-tech, high-touch products and solutions that go beyond traditional insurance. Present in over 75 countries, our 19,400 employees speak 70 languages, handle over 58 million cases each year, and are motivated to go the extra mile to offer peace of mind to our customers around the world.

For Allianz Partners USA products offered and sold in the U.S.: Terms, conditions, and exclusions apply to all plans. Plans are available only to U.S. residents. Not all plans are available in all jurisdictions. Availability of coverage, including the epidemic-related benefits and covered reasons described here, varies by product and by state. Products may not include all benefits or covered reasons described here. All benefits are subject to maximum limits of liability, which may in some cases be subject to sublimits and daily maximums. Benefits and limits vary by plan. For a complete description of the coverage and benefit limits offered under your specific plan, carefully review your plan's Letter of Confirmation/Declarations and Certificate of Insurance/Policy. Insurance coverage is underwritten by BCS Insurance Company (OH, Administrative Office: Oakbrook Terrace, IL), rated "A" (Excellent) by A.M. Best Co., under BCS Form No. 52.201 series or 52.401 series, or Jefferson Insurance Company (NY, Administrative Office: Richmond, VA), rated "A+" (Superior) by A.M. Best Co., under Jefferson Form No. 101‐C series or 101‐P series, depending on state of residence. A+ (Superior) and A (Excellent) are the 2nd and 3rd highest, respectively, of A.M. Best's 13 Financial Strength Ratings. Except as otherwise specified, AGA Service Company d/b/a Allianz Global Assistance is the licensed producer and administrator of Allianz Travel-branded travel protection plans in the U.S. and an affiliate of Jefferson Insurance Company. Allianz Global Assistance is a mark of AGA Service Company or its affiliates. The insured shall not receive any special benefit or advantage due to the affiliation between Allianz Global Assistance and Jefferson Insurance Company. Plans include insurance and assistance services. Noninsurance benefits/products are provided and serviced by Allianz Global Assistance.

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Source: Company press release. end of article

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