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Summer 2023 has marked a momentous return to normalcy for Americans as they embrace the opportunity to travel after a prolonged period of restrictions and limitations. According to Allianz Partners USA‘s annual Vacation Confidence Index, Americans are expected to spend over $214 billion on their summer holidays this year.
This increase in travel spend represents around a 10% increase over 2022, a 39% increase over 2021, a staggering 261% more than 2020, and remarkable 111% increase compared to pre-pandemic spending in 2019. The average American household is anticipated to spend $2,830 on average for their summer vacation. This amount tops $2,000 for only the fourth time since Allianz Partners began tracking vacation spending in 2009. A vacation is defined as a leisure trip of at least one week to a destination that is 100+ miles away from home. For this survey, a sample of 2,010 Americans over the age of 18 were interviewed between May 2nd and 4th.
Daniel Durazo, Director of External Communications at Allianz Partners USA, said:
We expect to see a record-breaking number of American travelers this summer, and whether heading near or far, increased traveler numbers can mean an increased chance of travel delays. While a devilish mix of inflation and strong demand have kept travel prices elevated, as our survey found, Americans are still willing to pay top dollar for a well-earned summer vacation. Protecting pre-paid expenses with a travel insurance policy that also offers travel delay coverage can end up being one of the smartest investments they can make.”
Anthony’s Take: Flights are full. Hotel rates are sky high. Yet, Americans continue to travel and I’m expecting to see all sorts of records broken this summer. I know that I paid more for our tickets to Italy than I have for business class seats in many years. It will be a busy summer and patience and alternative plans are going to be necessary as it heats up.
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Advertiser & Editorial Disclosure: The Bulkhead Seat earns an affiliate commission for anyone approved through the links above This compensation may impact how and where links appear on this site. We work to provide the best publicly available offers to our readers. We frequently update them, but this site does not include all available offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed, or approved by any of these entities.
