Allianz's study shows 89% of travellers plan to obtain trip coverage for their summer vacations
Allianz Global Assistance (Allianz) has released its Summer Vacation Confidence Study, conducted with Ipsos, which examines travellers' sentiments, confidence, and intentions regarding their summer vacation plans.
The survey highlights trends influenced by inflation and pandemic recovery.
Allianz's study shows that 61 percent of Canadians plan to take a trip this summer. Confidence is highest among those aged 18-34, with 72 percent planning to travel, and among families with kids, with 73 percent confident in their travel plans.
Dan Keon, VP of Marketing, and Insights at Allianz, noted, “Canadians are typically known to escape the winter, but with 72 percent saying summer vacations are important to them, we may be seeing a shift to more consistent travel year-round.”
He added that 30 percent of Canadians plan to take more than one trip this summer, identifying them as “hyper travellers.”
The average vacationing family plans to spend $2,728 on their summer vacation, totaling around $24.9 billion collectively.
Keon emphasized the importance of travel insurance, stating, “Canadian travellers plan to make a significant investment in their summer vacations this year. In today's economic climate, it has never been more critical for travellers to protect themselves against unplanned cancellations and emergencies.”
He advised including travel insurance in trip budgets to avoid potentially catastrophic expenses from unexpected medical emergencies abroad.
The study also found that 89 percent of Canadians who intend to travel plan to obtain travel insurance. Families with kids plan to spend an average of $3,519 on summer vacations. Most Canadians travel in the summer for leisure to rest and relax (65 percent) or to visit family and friends (46 percent).
However, one quarter of those who value summer vacations are not confident they will actually take one. Additionally, 47 percent of Canadians had planned to travel this past winter.
