Two new studies, one by Allianz Global Assistance Canada and another by Hyatt Hotels, finds Canadians and global travelers are definitely ready to hit the road.
Allianz Global Assistance Canada released its sixth annual Winter Vacation Confidence Index Survey results today, revealing that winter vacation confidence among Canadians is on the rise, while travelers plan to spend more on travel than ever before.
Forty three per cent of Canadians intend on taking a vacation this winter, up from just 32 per cent in 2021, according to the Winter Vacation Confidence Index study conducted by Ipsos for Allianz Global Assistance, a leading travel insurance and assistance provider.
“With travel volumes nipping at the heels of pre-pandemic levels, an overwhelming majority – 84 per cent – of travelers feel they desperately need a vacation this year,” said Dan Keon, Vice President, Marketing & Insights at Allianz Global Assistance Canada. “A major driver of this ongoing travel comeback is the continued desire for revenge travel, with half of Canadians intending to unapologetically make up for lost vacation time that was postponed due to the pandemic.”
Despite rising travel costs, over half of travelers surveyed say they will be using their pandemic savings on a vacation this year. Consequently, the average anticipated winter vacation spend has increased by 20 per cent to $3,193 since 2021.
Overall, Canadian households are projected to spend around $14.3 billion on vacations in the upcoming year, eclipsing the pre-pandemic high recorded in Allianz’s 2019 annual survey. While pent-up demand is driving up spending, financial worries may be tempering the increase as 57 per cent of travelers shared they will be scaling back vacation plans this year due to inflationary pressures.
Looking ahead to the next twelve months, six in ten Canadians are confident they will take a holiday – up eight points since last year, but still shy of pre-pandemic levels. Continued concerns about the possibility of COVID-19 impacting travel plans is a likely contributor, as expressed by six out of ten respondents.
With both financial and pandemic considerations impacting travellers, Allianz Global Assistance is reminding travellers to plan ahead with travel insurance to protect their travel investments and themselves on their next trip.
“The pandemic has continued to expose the unpredictability of travel and the peace of mind travel protection can bring, as shown by the 74 per cent of Canadians who think travel insurance is equally or more important than before the pandemic,” said Keon.
The Park Hyatt in Sydney, Australia offers tremendous views of the Sydney Opera House.
Meanwhile Hyatt Hotels has released results from a global survey that touches on working on the road and bucket-list travel. Here are some of their findings:
1. Work from the Holidays: With more work flexibility, maximize the holidays while working on the road before/after family time. This festive season, Hyatt is experiencing a nearly 15% increase in Work from Hyatt bookings compared to the 2021 festive season as even more people take ‘bleisure’ trips for the holidays.
2. Hotels Over Home Rentals: 63% of people traveling with families this festive season prefer to stay at a hotel or resort rather than a home rental. Act fast and book accommodations now.
3. Goodbye Wrapped Presents: More than half (61%) of people said they would be excited to receive travel or an experience. Consider giving a vacation, plane tickets, spa and meditation session or a cooking class as a gift this year.
4. Plan for Bucket-List Travel: Most people (62%) agree the festive season is a great time to cross off a bucket-list destination. For inspiration, some of the most popular include Japan, Canada and Italy. In fact, Hyatt hotels in Tokyo are seeing an increase in room nights reserved for the festive season, compared to the same period in 2019.
5. Save with Loyalty Programs: 51% of respondents said if there was an impressive travel rewards program offer, they would change their travel plans or go out of their way to earn and redeem points. Earn points and be the first to know about offers with World of Hyatt.
