12/08/2022

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TRAVEL KICKS INTO OVERDRIVE AS AMERICANS USE THEIR VACATION DAYS WITH A VENGEANCE

TRAVEL KICKS INTO OVERDRIVE AS AMERICANS USE THEIR VACATION DAYS WITH A VENGEANCE

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

RICHMOND, Va., July 26, 2022 /PRNewswire/ — 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.

TRAVEL KICKS INTO OVERDRIVE AS AMERICANS USE THEIR VACATION DAYS WITH A VENGEANCE
When was the last time Americans took a vacation? (graph 1)(PRNewswire)

Link to download graphic 1: HERE. 
Link to download graphic 2: HERE. 
Link to download graphic 3: HERE.

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/.

*Methodology: These are the findings of an Ipsos poll conducted on behalf of Allianz Partners USA. For this survey, a sample of 2,011 Americans aged 18+ was interviewed from May 2 to 4, 2022, 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

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.

** While the new Epidemic Coverage Endorsement adds certain covered reasons that apply to specific epidemic-related situations, products otherwise generally do not cover claims due to known, foreseeable, or expected events, epidemics, government prohibitions, warnings, or travel advisories, or fear of travel, and coverage can vary by state. Please see our Coverage Alert for information about other temporary accommodations that may be available.  Benefits for quarantines only apply when an eligible traveler is specifically named and individually ordered to quarantine by order or official directive of a government, public regulatory authority, or the captain of a commercial vessel on which that eligible traveler is booked to travel during the covered trip, based on that eligible traveler’s exposure to COVID-19. The benefit does not cover travel restrictions (whether or not they are referred to as “quarantine”) that apply generally or broadly (a) to some segment or all of a population, geographical area, building, or vessel (including without limitation shelter-in-place, stay-at-home, safer-at-home, or other similar restriction), or (b) based on to, from, or through where the person is traveling. Coverage may not cover the full cost of your quarantine and is subject to applicable benefit limits. See your plan for details.

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 Epidemic Coverage Endorsement, including specific 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, TravelSmart, and AgentSmart are marks 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. SmartBenefits proactive payments and “no receipts” payments available only on certain plans. For plans that include proactive payments: when you opt in and provide flight information, Allianz Global Assistance will monitor flights and send flight status and benefit alerts, including alerts about flight delays that qualify for automated travel delay payments. Standard message/data rates apply to SMS alerts. Automated claims and payment system availability is not guaranteed and is subject to our sole discretion. All claims subject to policy terms, conditions, and exclusions.

Confidence in taking vacation sometime in 2022. (graph 2)
Confidence in taking vacation sometime in 2022. (graph 2)(PRNewswire)
The importance of taking a vacation. (graph 3)
The importance of taking a vacation. (graph 3)(PRNewswire)
(PRNewsfoto/Allianz Partners)
(PRNewsfoto/Allianz Partners)(PRNewswire)

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SOURCE Allianz Partners