Allianz Partners'
16th Annual Vacation Confidence Index
Reveals
Six in Ten Americans Are Confident in Taking a Summer
Vacation
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 1: Summer Confidence](https://mma.prnewswire.com/media/2440522/Allianz_Partners_Infographic_1__Summer_Confidence.jpg)
"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 http://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 Allianz Partners