The seventh-annual Allianz Travel Insurance Vacation Confidence Index is out, and the numbers tell us something about the American travel psyche. Americans are projected to spend $89.9 billion on summer vacations in 2016, up from $85.5 billion in 2015. (Allianz defines a vacation as “a leisure trip of at least a week to a place that is 100 miles or more from home.”)
Still, some Americans are a little less sure that they’ll go on vacation this summer. Thirty-four percent of Americans are not confident that they’ll take a summer vacation this year, up three points from 2015’s number. The four in ten (43%) that are confident they’ll get a summer vacation in this year, meanwhile, marks a drop from 46% last year (the highest figure seen since 2010).
As for spending: The Vacation Confidence Index also revealed that the average American household that’s at least somewhat confident it will take a vacation this summer will spend $1,798 on average—up roughly 11% from last year’s average of $1,621.
Here are the findings as an infographic:
“With vacation spending up, travel insurance should be near the top of the trip planning checklist,” said Daniel Durazo, director of communications at Allianz Global Assistance.
Planning to travel this summer? Where to? Let us know in the comments!
Disclaimer: Johnny Jet works as an ambassador for Allianz Global Assistance (AGA Service Company) and receives financial compensation.
For more information about Allianz Global, visit AllianzTravelInsurance.com.