SUMMER 2023 TRIP LENGTH AND SPENDING ARE BOTH ON THE RISE

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Jul 18, 2023, 13:59 ET

Average Trip Length Expected to Grow to 4.5 Nights
As Average Spend on Room Nights Increases Up to 30%

RICHMOND, Va., July 18, 2023 /PRNewswire/ -- Americans are planning to set their status to "out of office" for longer stretches and open their wallets a little wider this summer, according to this year's 15th Annual Vacation Confidence Index from Allianz Partners USA. While the traditional week-long vacation is still elusive, new research indicates travel is becoming a priority again based on longer trips and increased spend.

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As both travel and confidence have rebounded in recent years, the average number of nights spent away has been steadily creeping up and now sits at 4.5 versus 4.3 (2022) and 4.1 (2021). The shift is beginning to erode the "micro-cation" trend coined by the travel insurance and assistance company in 2019 that defined a leisure trip of four nights or fewer and at least 100 miles away from home. This year, nearly two-thirds of respondents (64%) say their next vacation will still be squeezed into a micro-cation and a quarter (23%) are planning more than one, both in line with last year.

Between May and September, seven in ten (71%) Americans will travel away from home for at least one night, averaging 1.4 trips away from home again this summer. Two in five of those surveyed (39%, consistent with 2022) also are planning multiple getaways of two or more nights away from home, resulting in a busy summer travel season. While the majority of all getaways still qualify as a micro-cation, overall trip length begins to shrink as the number of trips passes three.

Length of time away isn't the only travel indicator that's creeping up. With summer vacation spending expected to hit an all-time high of $214.1 billion in 2023, it's no surprise that average cost per night also is on the rise. Those who go away only one night are more likely to splurge, spending $622 on the trip. When adding a second night, travelers plan to spend $775 total, plunging the average nightly rate to just $388. In a reversal from 2022, those committing to three, four or five nights away have displayed solid growth year-over-year with average nightly spend jumping nearly $100 compared to last year (up as much as 30%) at $418, $422 and $445 respectively.

"A 'micro-cation' affords more opportunity to make a quick getaway and justify a splurge, and many Americans are planning multiple trips to soak in all summer has to offer from the mountains to the beaches and everywhere in between," said Daniel Durazo, director of external communications at Allianz Partners USA. "For frequent travelers, an annual travel insurance policy delivers both convenience and value by protecting every trip from budget to binge for a full year."

The Vacation Confidence Index has been conducted each summer since 2009 by national polling firm Ipsos Public Affairs on behalf of Allianz Partners USA.

Allianz Partners offers travel insurance through most major U.S. airlines, leading travel agents, online travel agencies, hotel companies, cruise lines and directly to consumers. For more information on Allianz Partners and available travel policies, please visit http://www.allianztravelinsurance.com/.

*Methodology: These are the findings of an Ipsos poll conducted on behalf of Allianz Partners. For this survey, a sample of 2,010 Americans aged 18+ was interviewed from May 2 to 4, 2023 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.

About Allianz Partners
In the United States, Allianz Partners USA (AGA Service Company) offers Allianz Travel-branded travel protection plans and serves millions of customers each year. In addition to travel protection, the company offers event ticket protection, registration protection for endurance events and unique travel assistance services such as international medical assistance and concierge services. AGA Service Company is doing business as Allianz Global Assistance Insurance Agency in California (License # 0B01400) and Massachusetts. Allianz Partners USA is part of the Allianz Partners group. Allianz Partners is a world leader in B2B2C insurance and assistance, offering global solutions that span international health and life, travel insurance, mobility and assistance. Customer driven, our innovative experts are redefining insurance services by delivering future-ready, high-tech, high-touch products and solutions that go beyond traditional insurance. Present in over 75 countries, our 19,400 employees speak 70 languages, handle over 58 million cases each year, and are motivated to go the extra mile to offer peace of mind to our customers around the world.

For Allianz Partners USA products offered and sold in the U.S.: Terms, conditions, and exclusions apply to all plans. Plans are available only to U.S. residents. Not all plans are available in all jurisdictions. Availability of coverage, including the epidemic-related benefits and covered reasons described here, varies by product and by state. Products may not include all benefits or covered reasons described here. All benefits are subject to maximum limits of liability, which may in some cases be subject to sublimits and daily maximums. Benefits and limits vary by plan. For a complete description of the coverage and benefit limits offered under your specific plan, carefully review your plan's Letter of Confirmation/Declarations and Certificate of Insurance/Policy. Insurance coverage is underwritten by BCS Insurance Company (OH, Administrative Office: Oakbrook Terrace, IL), rated "A" (Excellent) by A.M. Best Co., under BCS Form No. 52.201 series or 52.401 series, or Jefferson Insurance Company (NY, Administrative Office: Richmond, VA), rated "A+" (Superior) by A.M. Best Co., under Jefferson Form No. 101‐C series or 101‐P series, depending on state of residence. A+ (Superior) and A (Excellent) are the 2nd and 3rd highest, respectively, of A.M. Best's 13 Financial Strength Ratings. Except as otherwise specified, AGA Service Company d/b/a Allianz Global Assistance is the licensed producer and administrator of Allianz Travel-branded travel protection plans in the U.S. and an affiliate of Jefferson Insurance Company. Allianz Global Assistance is a mark of AGA Service Company or its affiliates. The insured shall not receive any special benefit or advantage due to the affiliation between Allianz Global Assistance and Jefferson Insurance Company. Plans include insurance and assistance services. Noninsurance benefits/products are provided and serviced by Allianz Global Assistance.

SOURCE Allianz Partners