The figure represents approximately a 10% increase over 2022, a 39% increase over 2021, 261% over 2020 and a remarkable 111% increase compared to 2019 pre-pandemic spending.
Allianz is a travel insurance and assistance provider. According to its 15th annual Vacation Confidence Index, Americans have doubled their summer vacation spending in just four years. In 2023, the average American household is anticipated to spend an average of $2,830 on their summer vacation, topping $2,000 for the fourth time since Allianz Partners began tracking vacation habits in 2009.
Average household spending
Three years after the pandemic, average expected vacation spending per household has risen by almost $1,000, marking about a 7% increase over 2022, a 33% increase from 2021, a 50% increase from 2020 and a 39% increase from pre-pandemic 2019 levels.
Higher costs/chance of delays
'We expect to see a record-breaking number of American travelers this summer, and whether heading near or far, increased traveler numbers can mean an increased chance of travel delays,' said Daniel Durazo, director of external communications, Allianz Partners USA. 'While a devilish mix of inflation and strong demand have kept travel prices elevated, as our survey found, Americans are still willing to pay top dollar for a well-earned summer vacation.'
Durazo advised protecting pre-paid expenses with a travel insurance policy that also offers travel delay coverage.
Allianz Partners offers travel insurance through most major US-based cruise lines, airlines, travel agents, online travel agencies, hotel companies and directly to consumers.
The Vacation Confidence Index has been conducted each summer since 2009 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.
For this survey, 2,010 Americans over age 18 were interviewed from May 2-4 via the Ipsos Online Omnibus. The precision of Ipsos online polls is measured using a credibility interval. In this case, the results are deemed accurate to within plus or minus 2.5 percentage points, 19 times out of 20, compared to what the results would have been had all American adults been polled.