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, despite budget constraints, 68% said they’re confident they’ll take said vacation in 2024. For the annual survey, which was established in 2009, these numbers represent an all-time high. So much so, 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. Instead, Allianz found that 27% of Americans plan to ball 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,” said Daniel Durazo, director of external communications at Allianz Partners USA. “Despite citing financial constraints and other external factors, Americans are even more determined to travel to their destination of choice.”
As for who’s planning to pack 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 which 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,” said Durazo. “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.”
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