Travel Kicks Into Overdrive As Americans Use Their Vacation Days With A Vengeance - Allianz Travel

Travel Kicks Into Overdrive As Americans Use Their Vacation Days With A Vengeance – Allianz Travel

Thursday, Jul 21, 2022 0

A Majority of Americans Have Traveled in the Last Year and Confidence in Taking an Annual Vacation Hits Record Levels

Now more than ever, Americans are claiming their vacation days and making time to travel a priority. According to Allianz Partners USA’s 14th Annual Vacation Confidence Index*, a majority of Americans have taken a vacation in the last year, marking a significant milestone in the survey’s decade-plus-long history. In fact, they have never been as steadfast about the importance of taking an annual vacation, or more confident in using their hard-earned PTO days.

Defining a vacation as leisure travel of at least a week to a destination 100 miles or more away from home, the survey revealed that 57% of Americans have taken a vacation in the last year. Up from 44% last year, 2022 marks the highest percentage of Americans who reported traveling in the last year since 2009, when the survey was first conducted. Of the respondents who have traveled in the last year, two in 10 (22%) traveled in the three months leading up to the survey, with the 18-34 year old demographic (29%) leading this trend.

Signifying a new norm of Americans prioritizing vacationing, Allianz’s survey also found that three-quarters of Americans (74%) consider an annual vacation important, a huge leap from 60% in 2019 and one point higher than last year. Mirroring this trend, confidence in taking a vacation this year also has never been higher, with 65% of Americans expressing positive intentions to vacation, up two points from last year and a stunning 13 points over the highest prior year surveyed (52% in 2014).

Allianz Partners USA also defined a “vacation deficit” as the percentage of Americans who say an annual vacation is important to them, but are not confident they will take one this year. In 2022, the percentage of Americans who are experiencing a vacation deficit returns to 19% compared to 44% in 2020 during the height of the pandemic. With more Americans back to traveling, and with vacation intentions remaining strong, the vacation deficit is nearing an all-time low.

Looking at those who have been waiting longer to travel (43% of Americans have not taken a vacation in a year or more, down 13 points from last year), older Americans ages 55+ are demonstrating more hesitancy (55%) than their younger counterparts (41% for ages 35-54 and 31% for ages 18-34), as are lower-income Americans (56% of those making less than $50,000/year versus 34% who make more than $100,000).

“Our latest Vacation Confidence Index proves that taking an annual vacation has never been more important to Americans, and we’re seeing record levels of confidence that they’ll travel between now and the end of the year,” said Daniel Durazo, director of external communications at Allianz Partners USA. “Instead of banking those PTO days, Americans are viewing their vacation time as a much-needed getaway to support their mental health.”

The Vacation Confidence Index has been conducted each summer since 2009 by national polling firm Ipsos Public Affairs on behalf of Allianz Partners USA.

In March 2021, Allianz Partners announced enhancements** to many of its travel insurance products in most states through an Epidemic Coverage Endorsement. Products that include this endorsement may provide coverage to customers who become ill with COVID-19 or a future epidemic, are individually ordered to quarantine, or are denied boarding due to a suspected illness. These products also may cover emergency medical care and transportation or provide reimbursement for change fees and loyalty points deposit fees if the customer becomes ill with an epidemic disease. Availability of the Epidemic Coverage Endorsement, and specific covered reasons under that endorsement, varies by product and by state. See your plan for details.

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 and available travel policies, please visit http://www.allianztravelinsurance.com/.