July 30, 2024 – Americans’ confidence in taking annual vacations has reached an all-time high, according to Allianz Partners USA’s 16th Annual Vacation Confidence Index. The survey reveals that 68% of Americans are confident they will take a vacation in 2024, the highest level since the survey’s inception in 2009.
The survey, conducted by Ipsos Public Affairs, highlights a growing trend among younger travelers (ages 18-34), with 71% expressing confidence in their vacation plans. This confidence is closely followed by 35-54-year-olds at 70% and those aged 55 and above at 65%, both showing significant increases from last year.
Despite the high confidence levels, financial constraints remain a concern for many. About 47% of Americans admit they cannot afford a vacation this year, yet nearly half (49%) plan to travel regardless. This trend, dubbed “justi-vacation,” sees individuals prioritizing travel even when it stretches their budgets.
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The survey also shows an increase in luxury travel, with 27% of respondents investing more in premium experiences like business class flights and upscale accommodations. Additionally, the percentage of Americans who believe taking a vacation is important but are not confident they can take one has dropped to its lowest point, with only 15% experiencing a “vacation deficit.”
Furthermore, 73% of Americans report a desperate need for a vacation, up two points from last year. Despite inflation, 57% of these individuals plan to scale back their travel expenses to ensure they can still take a break. The survey also reveals that 63% of Americans have taken a vacation in the past year, and 22% have vacationed within the past three months, showing a strong commitment to utilizing their paid time off.
Travel insurance is recommended by Allianz Partners USA to mitigate potential issues such as flight delays and lost luggage. “This year’s Vacation Confidence Index proves that Americans are in fact prioritizing their travel plans in 2024,” said Daniel Durazo, director of external communications at Allianz Partners USA. “Despite citing financial constraints and other external factors, Americans are even more determined to travel to their destination of choice.”
For more information on Allianz Partners and available travel policies, visit Allianz Travel Insurance.
About Allianz Partners
Allianz Partners USA offers travel insurance through major U.S. airlines, leading travel agents, online travel agencies, hotel companies, and cruise lines. Part of the global Allianz Partners group, the company provides B2B2C insurance and assistance solutions across various sectors, including international health, travel insurance, mobility, and assistance. With a presence in over 75 countries and a workforce of 19,400 employees, Allianz Partners is dedicated to delivering high-tech, high-touch products and services worldwide.
*Methodology: The Ipsos poll was conducted from April 15-22, 2024, with a sample of 2,010 Americans aged 18+. The results have a credibility interval of ±2.5 percentage points.
For further details, visit Allianz Travel Insurance or follow Allianz Partners on social media.
Source: Americans Embrace ‘Justi-Vacations’: Traveling Despite Budget Constraints
