by Brian Major
Last updated: 4:00 PM ET, Wed June 29, 2016
PHOTO: U.S. vacationers will spend more on travel in 2016. In downtown St. Maarten. (Photo by Brian Major).
Travel insurance provider Allianz's most recent survey offers a good news, bad news scenario regarding Americans' 2016 summer travel plans. The poll found U.S. residents will travel less frequently this year, but will spend more when away from home.
Issued this week, Allianz' Vacation Confidence Index survey found the average American household that is "at least somewhat confident" about taking a vacation this summer will spend an average of $1,798 while traveling, up 11 percent from the $1,621 per-household average recorded last year.
In all, the survey projects Americans will spend $89.9 billion on summer vacations in 2016, up from $85.5 billion in 2015. The findings are based on an Ipsos poll of 1,007 randomly selected adults conducted on behalf of Allianz from June 2 to 5, 2016. A vacation is defined as a leisure trip of at least a week to a place 100 miles or more from home.
Despite their expressed plans to spend more, an increasing percentage of Americans are not confident about taking a summer vacation in 2016. Specifically, four in ten people surveyed (39 percent) said they were "not confident" about taking a summer vacation in 2016, a three percent increase compared with one year ago.
Furthermore the percentage of U.S. consumers who are confident about taking a summer vacation in 2016 is down as well, falling one percent versus 2015 to 50 percent of those polled.
While their intent to travel this summer is down, the survey found Americans' overall desire to travel has increased. The survey reports 65 percent of respondents said taking an annual vacation is important to them, an eight percent increase over 2015 and equal to "levels last recorded in 2010," said Daniel Durazo, an Allianz spokesman.
The percentage of Americans who think a vacation is important but are "not confident" they will be able to take one also dropped in 2016, with nearly one quarter (22 percent) of survey respondents expressing this view. The figure represents a three percent increase over 2015.
The latest Allianz survey follows Tuesday's terrorist attack in the Istanbul international airport and outlines trends reporter earlier by the insurer. That poll found bookings for travel to destinations including major cities in Turkey during the summer travel season from Memorial Day to Labor Day were down 20 percent or more year-over-year in 2016.
Also, the number of travelers booked to visit Istanbul is down 43.7 percent in 2016 compared with the same period last year. This week's latest attack is likely to further impact travelers' plans to visit the city.
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