Vacation confidence remains high for US travellers
Americans have enjoyed a lengthy love affair with travel, and this year, most aren’t letting anything interfere with their long-awaited getaway plans
Allianz Partners USA’s 14th Annual Vacation Confidence Index indicates that vacation confidence remains at an all-time high, with 60 per cent of Americans intending to book a summer trip in 2022.
“Our survey affirms that summer vacation is a quintessential part of the American lifestyle,” said Daniel Durazo, Director of External Communications at Allianz Partners USA. “Confidence remains high as travellers rediscover the value and joy of travel this summer, primed as the season of adventure to make sun-kissed memories that last.”
Historically, summer vacation confidence hovered around 43 per cent during the previous decade (2010 – 2019) before falling to a record low of 26 per cent during the Covid-19 pandemic (2020). In 2021, revenge travel plans fuelled the dramatic spike to 60 per cent and continued pent-up desire and restored access to destinations have kept the measurement at that same level this year. The survey also revealed that 76 per cent of the Americans who believe vacation is important typically travel during the summer.
Younger travellers show highest travel confidence
In a separate survey conducted by Allianz Partners, the travel and assistance company found that the perceived importance of a summer vacation differs widely by country of residence. Spain (89 per cent), Italy (88 per cent) and the UK (84 per cent) lead the way for placing the greatest value on summer travel, and US travellers rank fourth (83 per cent).
Vacation confidence begins to wane with maturity and the added responsibilities associated with cultivating both careers and families. As a result, those expressing the highest levels of confidence in summer 2022 travel are younger. In the 18 – 34 age bracket, 69 per cent report they plan to vacation, followed by 64 per cent of those ages 35 – 54 and just half of Americans ages 55 or older.
Not surprisingly, income also plays a role in confidence with 73 per cent of those earning US$100k or more expected to enjoy a summer vacation this year, compared to 60 per cent of Americans who earn between $50k and $100k, followed by just under half (45 per cent) of those making less than $50k annually. The gender gap shifted only slightly in 2022 with 65 per cent of men versus 56 per cent of women who believe a summer vacation is do-able.