Allianz Global Assistance (Allianz) has released the results of its Summer Vacation Confidence Survey, which gauges travellers' sentiment, confidence and intentions around summer vacation planning. The results are encouraging, with three in five Canadians planning to travel this summer.
The travel insurer said this year's survey, conducted in partnership with Ipsos, revealed insightful trends and preferences as forces such as inflation and recovery from the pandemic continue to influence consumer attitudes and travel patterns.
The Allianz Summer Vacation Confidence Survey found that summer vacation confidence is on the rise, with 61% of Canadians planning to travel this summer. Summer vacation travel intentions are highest among those aged 18-34 (72% confidence) and families with children (73% confidence).
Dan Keown, vice president of marketing and insights at Allianz Global Assistance Canada. (Photo: LinkedIn)
“It's well-known that Canadians tend to escape the winter, but with 72 per cent saying summer vacations are important, we may be seeing a shift towards more consistent travel throughout the year,” said Dan Keown, vice president of marketing and insights at Allianz.
“Canadian consumers' attitudes regarding the importance and priority of travel have recovered quickly in the wake of the pandemic. Our Summer Vacation Confidence Survey shows this trend continues, with 30 per cent of Canadians planning at least one trip this summer. We consider this demographic to be 'hyper travellers.'”
The survey also found that the average vacationing family plans to spend $2,728 on vacation this summer, which equates to a total of about $24.9 billion.
“Canadian travellers plan to invest heavily in their summer holidays this year,” Keown noted.
“In today's economic climate, it's more important than ever for travellers to protect themselves against unexpected cancellations and emergency situations. Allianz encourages all Canadians planning a vacation to include travel insurance in their travel budget, as the cost of travel insurance is only a small fraction of the potentially devastating expenses that can arise from an unexpected medical emergency while abroad.”
Allianz Partners' new Allyz TravelSmart app offers useful features for travelers. (Photo courtesy of Allianz)
More details from the Allianz Summer Holiday Confidence Survey:
· Nearly all Canadians (89%) who are planning to travel plan to purchase travel insurance (Allianz Vacations Confidence Survey, November 2023).
· Families with children plan to spend an average of $3,519 on summer vacation this year.
· Most Canadians will travel this summer for leisure holidays to rest and relax (65%) or to visit family and friends (46%).
· A quarter of people who say summer vacation is important aren’t confident they’ll take it.
· 47% of Canadians were planning to travel this winter (Allianz Vacation Confidence Survey, November 2023).
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