Vacation confidence remains at an all-time high in 2022, with 60 percent of Americans intending to book a summer trip, according to Allianz Partners USA’s 14th Annual Vacation Confidence Index.
Summer vacation confidence remains at a record level this year after reaching 60 percent in 2021 following a record low of 26 percent during the height of the COVID-19 pandemic in 2020. Allianz points out that summer vacation confidence hovered around 43 percent during the previous decade from 2010 to 2019.
The same study also found that 76 percent of Americans who believe vacation is important typically travel during the summer season.
Vacation confidence is impacted by both age and income, the study indicates, with younger and higher-earning travelers expressing the most confidence. Among those aged 18-34, 69 percent say they plan to vacation, followed by 64 percent of those ages 35-54 and just half of Americans ages 55 or older.
More than seven out of 10 (73 percent) of those earning $100,000 or more annually expect to enjoy a summer vacation this year, compared to just 60 percent of Americans who earn between $50,000 and $100,000 and only 45 percent of those making less than $50,000 per year.
The study also shows that the gender gap moved only slightly this year, with 65 percent of men and 56 percent of women anticipating a summer getaway.
“Our survey affirms that summer vacation is a quintessential part of the American lifestyle,” Daniel Durazo, director of external communications at Allianz Partners USA, said in a statement. “Confidence remains high as travelers rediscover the value and joy of travel this summer, primed as the season of adventure to make sun-kissed memories that last.”
When it comes to those not planning a summer vacation, 57 percent say that it’s because they don’t want to spend money. That figure is up 19 points compared to last year amid recent inflation, which was cited by 68 percent of Americans who lack confidence in any summer travel.
The Vacation Confidence Index, which was conducted by national polling firm Ipsos Public Affairs on behalf of Allianz Partners USA and interviewed more than 2,000 American adults from May 2-4, 2022, also shows a rise in the “micro-cation” trend this year.