Are you feeling burnt out?
Ready for a break?
Suffering from wanderlust?
You’re not alone. According to Allianz Partners USA’s 16th Annual Vacation Confidence Index, 73% of Americans said they desperately need a vacation and 68% said they’re confident they’ll take that vacation in 2024 even though they don’t feel like their bank accounts are not quite as forgiving in this department. These numbers represent an all-time high since 2009. Allianz even coined a term to describe the nation’s insatiable hunger for adventure: the justified vacation, or, if you’re feeling cute, the “justi-vacation” for short.
That’s right, justi-vacations, when someone takes a vacation despite being unable to afford it, are on the rise, and the phenomenon doesn’t appear to be slowing down anytime soon. Interestingly, travelers aren’t pinching pennies either. Allianz found that 27% of Americans plan to go all out on their next vacation, embracing yet another trend, luxury travel, with plans to splurge on things like first-class tickets and glamorous accommodations.
“This year’s Vacation Confidence Index proves that Americans are, in fact, prioritizing their travel plans in 2024. Despite citing financial constraints and other external factors, Americans are even more determined to travel to their destination of choice.”
Daniel Durazo, director of external communications at Allianz Partners USA
Who’s Packing Their Bags?
Travelers aged 18-34 expressed the highest confidence in taking an annual vacation at 71%. Hot on their tails are GenZ and Millennials, 70% of whom plan to pack their bags this year, while 65% of travelers ages 55+ are confident they will go on a trip sometime in 2024.
“If you’re planning a getaway this year, we recommend adding a travel insurance plan to your packing list. Whether it’s a flight delay or lost luggage, a travel insurance policy may reimburse you for covered losses associated with a covered travel delay or baggage loss that could otherwise spoil a cherished trip”
Daniel Durazo, director of external communications at Allianz Partners USA
It’s clear that Americans are prioritizing their travel plans in 2024, embracing the idea of a justi-vacation and planning to indulge in luxurious experiences despite budget concerns. If you’re ready to join the trend, make sure you’re prepared with travel insurance and a well-planned itinerary. Safe travels!