This year is a new record for Americans’ summer vacation travel spending, according to Allianz Partners USA‘s annual Vacation Confidence Index. According to Allianz Partners, Americans are set to spend upwards of $221 billion on summer vacations this year, a 3% increase from last year and a gigantic 118% increase from 2019. Besides spending, the number of travelers also significantly increased. 61% are expected to travel in summer 2024, a massive increase from 2019 when only 42% of Americans planned to travel. “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,” Director of External Communications at Allianz Partners USA Daniel Durazo said. “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,” Durazo continued. Allianz Partners also found that this year, the average household in the U.S. is set to spend about $2,843 on their summer vacation; 2024 is also currently the 5th year on record that spending has topped $2,000 since 2009, according to Allianz Partners.
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.”
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.
