Allianz Study Shows Strong Summer Travel Plans For Canadians

Allianz Global Assistance (Allianz) has released the results of its Summer Vacation Confidence Study, which gauges travellers’ sentiments, confidence and intentions regarding their summer vacation plans. The news is positive, with three in five Canadians planning to take a trip this summer.

The travel insurance provider says this year’s survey, conducted in partnership with Ipsos, reveals insightful trends and preferences as impacts like inflation and pandemic recovery continue to influence consumer mindsets and travel patterns. 

Allianz’s Summer Vacation Confidence Study found that summer vacation confidence is on the rise with 61% of Canadians planning to travel this summer. Summer travel intentions are highest among those aged 18-34 (72% confident) and families with kids (73% confident). 

Dan Keon, Vice President, Marketing & Insights at Allianz Global Assistance Canada. (Photo Credit: LinkedIn)

“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,” said Dan Keon, VP of Marketing & Insights at Allianz.

“Post-pandemic, there has been a rapid recovery in the Canadian consumer’s mindset around the importance and prioritization of travel. Our Summer Vacation Confidence Study suggests this trend is continuing, with 30% of Canadians planning to take more than one trip this summer. We consider this segment to be ‘hyper travellers’.” 

The study also revealed that the average vacationing family intends to spend $2,728 on a summer vacation this year – which equates to roughly $24.9 billion collectively. 

“Canadian travellers plan to make a significant investment in their summer vacations this year,” noted Keon.

“In today’s economic climate, it has never been more critical for travellers to protect themselves against unplanned cancellations and emergencies. 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.” 

Allianz Partners’ new Allyz TravelSmart app offers helpful features for travellers. (Photo Credit: Allianz)

More of Allianz’s Summer Vacation Confidence Study results: 

·      Almost all Canadians who intend to travel (89%) plan to obtain travel insurance (Allianz Vacation Confidence Study, November 2023).

·      Families with kids plan on spending an average of $3,519 on summer vacations this year.

·      Most Canadians are travelling this summer for a leisure vacation to rest and relax (65%) or to visit family and friends (46%).

·      One quarter of those who say summer vacations are important are not confident they will be taking a summer vacation.

·      47% of Canadians planned to travel this past winter (Allianz Vacation Confidence Study, November 2023).

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