Allianz Partners USA's 16th Annual Vacation
Confidence Index Projects Americans' Travel Spend to Reach
All-Time High This Summer
RICHMOND, Va., May 20, 2024
/PRNewswire/ -- Americans continue to signal that travel is
splurge-worthy and are again setting new records for vacation
spending in 2024. For a second consecutive year, Allianz
Partners USA's annual Vacation
Confidence Index* found that Americans' total spend on summer
vacations is expected to remain north of the $200 billion mark, this year exceeding
$221.6 billion. According to the
travel insurance and assistance provider, Americans have more than
doubled their projected summer vacation spending since the
inception of the pandemic. The 2024 figure represents an
approximately 3.5% increase over last year, but a whopping 118%
jump compared to 2019.
In 2024, the average American household is anticipated to
spend $2,843 on their summer
vacation, topping $2,000 for the
fifth time since Allianz Partners began tracking vacation habits in
2009. Creeping up slightly over last year, the figure continues its
steady climb from 2020's pandemic-related dip and shows a healthy
40% increase over 2019, which is fueled by more Americans planning
to travel in 2024 (61%) versus 2019 (42%).
"This summer, we expect to again see a record-breaking number of
Americans traveling for their summer vacations. Whether trips are
planned for a neighboring state or an international bucket-list
destination, an increase in traveler numbers can translate to an
increase in unexpected and undesirable travel delays," said
Daniel Durazo, director of external
communications at Allianz Partners USA. "While travel costs remain inflated, our
survey confirms Americans are not letting sticker shock hamper
their vacation plans which makes investing in a travel insurance
policy with travel delay coverage a smart move to protect their
considerable trip investment."
Link to download infographic:
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