Americans may be taking shorter vacations than ever, but they’re also spending more on travel. According to a new study by Allianz Global Assistance, U.S. citizens are expected to spend a record $101.7 billion on summer vacations this summer. That works out to an average of $2,037 per person, also a record and a 5.2% increase from last summer’s $1,936 per person.
Here’s how the results compare to those of previous years:
“Summer vacation spending will hit record levels this year, with Americans planning to spend an average of more than $2,000 on their trip, according to our 11th annual Vacation Confidence Index,” said Daniel Durazo, director of marketing and communications at Allianz Global Assistance USA. “This will bring total spending to a record $101 billion, a number which reflects the continued value that Americans place on their summer trips. As the amount spent on vacations continues to increase, it’s even more important that consumers purchase travel insurance when they book their trip, in order to protect their travel investment and protect against costly medical emergencies while traveling.”
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.