Allianz did some travel plans research and yes, it’s very useful for travel insurance brands.
While the world is watching how the new Omicron variant will affect travel, Allianz Partners is proud to share the results of the first edition of the International Vacation Confidence Index. Carried out by OpinionWay, the recent survey finds that a majority of European and American holidaymakers intend to travel this winter, with over half of all respondents in the 9 countries surveyed planning to travel.
While there is a strong intention to travel this winter, it is predominantly driven by strong domestic demand, with Italians (65%), Spaniards (63%), French (42%) and Americans (57%) intending to forgo international travel in favour of holidaying inside their own country of residence. The cross-country trend suggests that the return to international travel this winter will be met with caution by many prospective holidaymakers.
A few of the top survey trends:– Spaniards, Italians and Americans have the highest travel intentions and place the most importance on winter travel– The French are the least likely to have winter holiday plans this year, followed by the Germans and the Dutch – The Brits place somewhere in the middle in terms of domestic winter travel plans (44%) with a higher preference for planning foreign travel (25%) than France (15%) and America (18%)– The Swiss and the Dutch have the highest rate of foreign travel plans: 38% and 31% respectively
The Importance of winter holiday varies per country
While most respondents plan to travel this winter, the OpinionWay survey reveals that a winter getaway is most important for Spaniards (73%), Italians (64%) and Americans (69%). The UK is the only other country in which a majority of the population says a winter holiday is important (58%). In comparison, for the French (42%), Dutch (45%), Austrians (46%) and Swiss (49%), a winter holiday is less important. In Austria, which is currently under lockdown restrictions, 61% intend to travel this winter, with one in four planning to make a trip abroad. 25% cited concerns around the ongoing pandemic as a reason for not making travel plans.
The outlook for foreign travel is most positive in Switzerland and the Netherlands
The outlook for foreign travel is most positive in the smallest countries of the group: Switzerland is at the top of the list with 38% of respondents intending to travel abroad over the winter months. While the Dutch may not see winter travel as their top priority, they have the second highest rates of foreign travel plans, with 31% of respondents planning to go abroad. The countries with the lowest rates of foreign travel are France (15%) and the US (18%).
The Spending intent varies: American holidaymakers plan to spend 3 times more than Italians
Americans intend to spend the most on a winter holiday this year with £2559 ($3382). This could be attributed to the cost of transportation where travel often requires flying. Britons have the second highest budget at £1891, with a relatively high percentage of Britons intending to travel abroad when compared to other markets. On the opposite end of the spectrum, the lowest budget for winter travel is in Italy £652 and Spain £795, where costs are lower and travel is feasible by train or by car.
The health crisis continues to worry travellers
In all countries included, survey respondents identified three major reasons not to travel: a winter holiday not being important, wanting to save money and worry over the pandemic.
In Germany, concern about the ongoing health crisis is the main reason for not planning a holiday this winter (30%) compared with just 13% of French respondents. The health crisis is also a key consideration for Britons with 27% citing it as a travel deterrent.
For a majority of respondents, the combination of vaccination and flexible travel arrangements offer sufficient mitigation against this period of uncertainty and risk. Vaccination is the top precaution undertaken by all, most notably Austrians (64%), Spaniards (63%), Italians (60%) and Britons (55%).
The British are most likely to take out insurance as a precaution when preparing for their next holiday
Britons are most likely to take out insurance (39%) followed by the Dutch (30%) and Spaniards (25%). Americans are the least likely with only 14% citing that they’ll take out insurance.
Commenting on the survey, Joe Mason, Chief Marketing Officer – Travel, at Allianz Partners said: “After the success of our Holiday Confidence Index in the USA over many years looking at summer holiday travel, we are thrilled to expand our reach and look at winter travel trends globally. This comprehensive study provides a multi-market analysis of reported changes to travel demand and behavioural intentions around travelling in the wake of the COVID-19 pandemic. Understanding what factors influence individual travel decisions is vital for tourism planning in these uncertain times and enables Allianz Partners to respond to changing consumer needs and preferences with travel protection solutions aimed at boosting traveller confidence into the future.”
Be the first to comment