Allianz Global Assistance has released the results of its Summer Vacation Confidence Study.

The survey was conducted in partnership with Ipsos in April 2024, among a sample of some 2,000 Canadian adults.

According to the findings, summer vacation confidence is on the rise with 61% of Canadians planning to take a trip this summer. Summer travel intentions are reportedly highest among those aged 18-34 (72% confident) and families with kids (73% confident).

“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. Collectively that’s about $24.9 billion.

Keon also highlighted the importance of travel insurance for vacations this summer and year round. “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. We wish all of our customers the safest of travels this summer, and if the unexpected arises, we’ll be here to help when it matters most,” he said.

Source: Travelweek