Is your budget getting in the way of your travel plans this year? New research suggests it doesn’t have to, if you’re willing to change your mindset. The results of Allianz Partners USA’s 16th Annual Vacation Confidence Index are in, revealing confidence in taking an annual vacation is at an all-time high. And it seems those desperate to find ways to travel are making it happen.
According to the travel insurance company’s index, which is based on a survey of thousands of U.S. adults:
- Nearly three-quarters (73%) say they’re in “desperate need” of a vacation.
- Two-thirds of Americans are confident in taking a vacation sometime this year, the highest amount since the index started in 2009.
- But traveling is expensive and 47% of respondents admit they can’t really afford a vacation this year.
- That’s not stopping the 49% who say they’re likely to travel anyway.
- They’ve sparked a new travel trend - the justified vacation, or “justi-vacation” - which is when someone takes a vacation despite not being able to afford it.
- More than half (57%) plan to scale back their travel plans this year because of inflation.
- And it seems money is no problem for a lucky few, including 27% who say they’re investing more in luxury travel experiences this year, like business class tickets and higher end hotels.
- As for the last time Americans took a vacation, 63% have taken one in the last year, while 22% have taken one within the last three months.
Source: Yahoo Finance