Sold-out flights, crowded airports, systems failures, and record numbers of tourists on the roads and all across Europe… it’s not your imagination. It seems that this summer everyone is traveling more than ever.
Americans doubled down on their travel plans this year as confidence in taking a summer vacation continues to rise. Allianz Partners USA‘s 16th Annual Vacation Confidence Index* reveals a four-year upward trend, with summer getaways 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. That’s up one point from 2023 and an impressive 20 points since 2019.
“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.”
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 expressed 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) expressed 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).
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).
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. In the United States, Allianz Partners USA offers travel protection plans and serves millions of customers each year. As one of the 15 global partners of the Paris 2024 Olympic and Paralympic Games, Allianz insures the movements, of athletes and fans with wide-ranging coverage solutions and services Present in over 75 countries, Allianz’s 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 customers around the world.
For more information on Allianz Partners and available travel policies, visit http://www.allianztravelinsurance.com/.
