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International Vacation Confidence Index -Summer 2024

Spending squeeze doesn’t dampen Europe’s appetite for summer travel


Allianz Partners’ International Vacation Confidence Index finds that while travel intentions for this summer remain high at 83%, financial constraints are the main concern for holiday makers across Europe this summer, with over half (55%) of those not planning to travel say they’re staying home because they can’t afford a holiday.

The survey finds a geographical divide when it comes to concern over travel costs, with countries in Western and Southern Europe perceiving money to be the main barrier to travel. The geographical divide was also evident in terms of how much travelers are planning to spend on travel this season. The survey found that compared to summer 2023, many holidaymakers in Western and Southern Europe are cautious, anticipating that they will spend less money on travel this year.  

The research, which was carried out by OpinionWay for Allianz Partners, surveyed 9,497 people across France, Germany, United Kingdom, Italy, Spain, Netherlands, Austria, Switzerland, Poland.

Other key findings include:

  • Majority of Europeans are planning to go on holiday this summer: Despite financial constraints 83% of those surveyed are planning to travel sometime between June and September. 55% of those travel plans are focused on the respondents’ home country with 45% planning a trip abroad. 
  • Impact on the environment is a key consideration for travelers: Despite budgetary pressures, more than half (54%) of travelers are willing to spend more on accommodation and transport options that help to reduce their carbon footprints, with that figure rising to 60% in Spain and Italy.
  • Extreme weather events, geopolitical unrest and risk of cyber threats among key concerns: Over half of European travellers (51%) are worried about extreme weather events such as flooding, heatwaves, water shortages and storms, while they also express worry about the global geopolitical situation (46%) and risk for their safety and security (45%).
  • Travel insurance remains key for travelers seeking peace of mind: 59% of travelers have either already purchased or intend to purchase travel insurance for their summer holidays, seeing it as a way of having a more peaceful vacation. Approximately half of travelers in France (49%), Germany (53%) and Spain (55%) have already purchased or intend to purchase travel insurance.
  • AI is becoming a valuable travel planning tool: Almost 3 out of 10 Europeans (29%) are planning to use Artificial Intelligence to assist with their summer holiday planning, particularly in Spain and Italy (both at 36%). Meanwhile, though the Dutch and the French have exhibited lower levels of intention, 25% and 24% of Dutch and French travelers respectively are still planning on leveraging AI when deciding on vacation plans. 

    Europeans are seeking new experiences: Regardless of their travel destination, the primary expectation for most Europeans on holiday is to experience something new and different (75%). This sentiment is even stronger among British (79%), Spanish (80%), and Polish (83%) travelers.

“High living costs may still be front-of-mind in Summer 2024, but travel intentions are sky-highhigh once again – continuing the post-pandemic trend. It’s clear that the traditional holiday season remains an important moment to take some time out and to experience new things. Desire to travel is extremely strong across Europe – but our data shows that travelers are having to tighten their belts to make their summer holidays happen this year.” - Joe Mason, Global Head of Product Management and Innovation, at Allianz Partners


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