Canadians to significantly invest in 2024 summer vacations – Allianz Global Assistance

Canadians to significantly invest in 2024 summer vacations – Allianz Global Assistance | Insurance Business Canada

Travel

Canadians to significantly invest in 2024 summer vacations – Allianz Global Assistance

Insurer’s poll finds two segments had high travel intentions

Travel

By
Terry Gangcuangco

Travel insurance provider Allianz Global Assistance has unveiled its Summer Vacation Confidence Study findings. Conducted in collaboration with Ipsos, the research assessed travellers’ attitudes, confidence levels, and plans for summer vacations.

This year’s poll indicated a rise in confidence for summer travel, with 61% of Canadians planning a trip this summer. Notably, the highest travel intentions are among families with children (73%) and the 18-34 age group (72%).

The study also revealed that an average vacationing family plans to spend $2,728 on their summer vacation this year, amounting to an estimated $24.9 billion in total. Additionally, the survey found that 30% of Canadians are planning to take more than one trip this summer.

“Allianz encourages all Canadians who are planning holidays to include travel insurance in their trip budget, as the cost of travel insurance is a fraction of the potentially catastrophic expenses that can arise due to an unexpected medical emergency abroad. We wish all of our customers the safest of travels this summer, and if the unexpected arises, we’ll be here to help when it matters most.”

Keon added: “Canadians are typically known to escape the winter, but with 72% saying summer vacations are important to them, we may be seeing a shift to more consistent travel year-round.”

The Allianz Vacation Confidence Study, conducted with Ipsos in April 2024, surveyed 2,000 Canadian adults.

What do you think about this story? Share your thoughts in the comments below.