If you’ve traveled at all this summer, the fact that Americans are spending more on their summer vacations than ever before probably won’t shock you. Given how expensive airfare is and how packed airports and planes are this was bound to happen. But the actual dollar figure is shocking.

The 14th annual Allianz Travel Insurance Vacation Confidence Index* estimates that this year’s summer vacation spending will near the $200 billion mark for the first time in the Index’s decade-plus-long history, amounting to $194 billion in 2022. The projection represents a 26% increase over last year when Americans slowly began making their return to travel. The figure also marks a staggering 229% increase above the unprecedented 2020 season and 91% increase compared to pre-pandemic spending in 2019. Those numbers are simply staggering.

Americans’ average anticipated spend on vacations this summer is $2,644 – the third time the figure has topped $2,000 since Allianz Travel Insurance began tracking vacation habits in 2010. Following an upward trend, the 2022 average vacation spend is a 25% increase over 2021, a 40% increase from 2020 and 30% increase from pre-pandemic 2019 levels. The increase in vacation spending is likely impacted by a combination of rising travel costs with U.S. inflation approaching a 40 year high. Plus, a pent-up desire and an abundance of vacation days to help travelers justify the elevated expense.

In a separate survey** conducted by Allianz Partners, the travel and assistance company found that United States travelers also lead in planned household travel spending over 10 other European countries surveyed. Americans’ planned summer vacation costs are 24% – 81% higher than those hailing from Austria, Switzerland, the Netherlands, France, the United Kingdom, Germany, Italy and Spain, respectively.

“Our survey shows that Americans will spend a record amount this year in order to enjoy the summer vacations they need and deserve,” said Daniel Durazo, director of external communications at Allianz Partners USA.

I agree with Dan, and have obviously both seen and felt it myself. I’ve never seen domestic airfares or European airfares higher. A strengthening dollar, nearly on par with the Euro, has also made European travel cheaper on arrival. Although hotels are more expensive now than ever in popular tourist cities like London, Paris and Rome. With gas prices coming off record highs, travel is expensive no matter how you go. But it is clear, people are traveling and spending in record numbers this summer-myself included!

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The Vacation Confidence Index has been conducted each summer since 2010 by national polling firm Ipsos Public Affairs on behalf of Allianz Partners USA. A vacation is defined as a leisure trip of at least one week to a place that is 100 miles or more from home.

*Methodology: These are the findings of an Ipsos poll conducted on behalf of Allianz Partners USA. For this survey, a sample of 2,011 Americans aged 18+ was interviewed from May 2 to 4, 2022, via the Ipsos Online Omnibus. The precision of Ipsos online polls is measured using a credibility interval. In this case, the results are accurate to within +/- 2.5 percentage points, 19 times out of 20, of what the results would have been had all American adults been polled. Quota sampling and weighting were employed in order to balance demographics and ensure that the sample’s composition reflects that of the actual U.S. population, according to data from the U.S. Census Bureau. Credibility intervals are wider among subsets of the population.

**Methodology: The 2nd International Travel Confidence Index carried out on behalf of Allianz Partners, is intended to understand and assess the perception of summer holidays throughout various European countries and the United States of America. The study was carried out on a sample of 9,107 persons, in France (1,019 persons), in Germany (1,020 persons), in the United-Kingdom (1,012 persons), in Italy (1,025 persons), in Spain (1,015 persons), in the Netherlands (1,003 persons), in Austria (1,003 persons), in Switzerland (1,005 persons) and in the United States of America (1,005 persons) from May 3 to 11, 2022. The samples were drawn up according to the quota method, with regard to the criteria of sex, age, socio-professional category, region of residence and size of agglomeration in France; sex, age, region and income in other countries. The interviews were performed using a self-administered online questionnaire via the CAWI (Computer Assisted Web Interview) system.

Disclaimer: I am an ambassador for Allianz Travel Insurance and receive financial compensation.

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