According to new consumer data released by Allianz Partners USA 16th Annual Vacation Confidence Index, Americans remain committed to travel despite budget constraints by embarking on ‘justi-vacations.’

The travel insurance and assistance company’s latest survey found that 68 percent of Americans are confident in taking a vacation sometime in 2024, marking the highest point since research began in 2009.

Younger travelers ages 18-34 (71 percent) continue to express the highest confidence in taking an annual vacation. Keeping up with GenZ and Millennials, 35–54-year-old travelers show more confidence this year at 70 percent, while 55+-year-olds are now 65 percent confident they’ll take a vacation sometime in 2024.

With annual confidence at a record high, a growing number of travelers (73 percent) report they are in desperate need of a vacation. While 47 percent of Americans say that they can’t afford a vacation this year, 49 percent shared they are likely to travel anyway. This sparks a new travel trend that rationalizes their actions: the justified vacation or ‘justi-vacation,’ taking a vacation despite the inability to afford the expenses that come with traveling.

Though it may be a budget stretcher, 27 percent said they are investing more in luxury travel experiences this year, demonstrating a penchant for splurges like business-class tickets and higher-end hotels.

“This year’s Vacation Confidence Index proves that Americans are in fact prioritizing their travel plans in 2024,” said Daniel Durazo, director of external communications at Allianz Partners USA. “Despite citing financial constraints and other external factors, Americans are even more determined to travel to their destination of choice.”

Durazo added, “If you're planning a getaway this year, we recommend adding a travel insurance plan to your packing list. Whether it’s a flight delay or lost luggage, a travel insurance policy may reimburse you for covered losses associated with a covered travel delay or baggage loss that could otherwise spoil a cherished trip.”

In other survey firsts, the percentage of Americans who said that taking a vacation is important but are not confident they’ll take one this year dipped to its lowest point. Just 15 percent of Americans are experiencing a vacation deficit, reaching an all-time low. Committed to finding ways to take a vacation despite financial constraints, of the 73 percent who shared they are desperate for a vacation, more than half plan to scale back their travels due to inflation.

Regarding the last time Americans took a vacation; 63 percent have done so in the last year using hard-earned PTO days. With travel top of mind, 22 percent of Americans also noted that they took a vacation within the past three months. Younger travelers ages 18–34 comprise 25 percent of this first-to-travel group. Not far behind, 24 percent of 35–54-year-olds and 18 percent of 55+ age groups also have planned some R&R away from home.