Europ Assistance (EA) and Generali Global Assistance (GGA) announce the international findings of its first Vacation Rental Barometer. EA & GGA surveyed 8,700 travelers across eight countries in the US and Europe from February 28 to April 1, 2021. These survey respondents, indicate they would be traveling in the next 18 months. They also plan to book a vacation rental. Their booking preferences, travel habits, and changing adoption are part of the survey.
Francine Abgrall, Group Head of Travel at Europ Assistance: “Throughout the pandemic, vacation rental was one travel sector that was less negatively impacted than others. As the overall travel industry prepares for travel to pick up, we want to know the sentiments of travelers about their upcoming travel plans. And in particular whether the favorable trend towards vacation rental would persist. We felt it is important to gauge the sentiment of the average traveler to provide ourselves and our partners, leaders in the Vacation Rental booking industry, with valuable insights. Overall, the travelers are excited to travel again. While Europeans indicate they prefer to travel abroad Americans opt to stay closer to home. When deciding what type of accommodation they like on their next trip, 71 percent indicate they will book a vacation rental.”
Chris Carnicelli, CEO of Generali Global Assistance: “Given the pent-up demand for travel it’s not surprising that approximately 80 percent of respondents indicate that they plan to travel in the next 18 months. Based on the findings of our Vacation Rental Barometer and current industry trends, we anticipate that travelers will flock to vacation rentals as they look for a relaxing socially distanced getaway.”
Upcoming Travel Plans
- 71% of travelers indicate they would book a vacation rental in the next 18 months
- 47% of Europeans are planning a summer trip (from July – September). 35% of Americans with summer being the most popular travel season among all respondents (45%).
- 23% of Americans indicated they planned to travel this spring (from April – June) compared to 13% of Europeans.
- 21% of American travelers indicate they planned to travel this fall. Meanwhile Europeans are more likely to wait until 2022 & beyond to plan their trip when compared to Americans (20% vs 17%).
- 49% of all travelers surveyed indicated they planned to take their next trip domestically with Americans (71%) the most likely to travel close to home.
- 55% of European travelers on the other hand indicated that they plan to travel abroad.
- Travelers in Spain (57%), Italy (54%) and Portugal (51%) opted to take their next trip domestically while more travelers in Belgium (29%), Germany (39%), the UK (40%) and France (45%) had plans to travel abroad.
- 78% of travelers are more likely to book a vacation rental above all other types of accommodations in the next 18 months. 86% say they would be more likely to continue booking them after the pandemic.
- While it’s not surprising that 77% of travelers indicate they would choose a Vacation Rental for leisure instead business (9%); there is a significant minority (13%) of Digital Nomads who indicate they would be extended stays while working remotely.
- Top Three Motivations for choosing a Vacation Rental: 1) Comfort, 2) Tranquility, 3) Privacy
New Travel Habits
- Top Three Criteria when picking a destination as a result of COVID: 1) Destination has clear cleaning protocols, 2) How busy the location gets, 3) Who they travel with
- Vaccine availability was most likely to impact travel plans for both Europeans (83%) and Americans (82%).
- 66% of Europeans and 64% of Americans indicate that making COVID vaccinations mandatory to board a flight wouldn’t impact them as they already planned to take the vaccine.
- 21% of European travelers who were undecided about taking the vaccine indicate they would consider it if it was mandatory to take a flight.
Travel Insurance Preferences
- 70% of Europeans and 64% of Americans indicated they would be more likely to purchase travel insurance due to pandemic.
- 44% of Europeans compared to 33% had purchased travel insurance when booking a vacation rental in the past.
- The top three coverages that reassured travelers looking to book vacation rentals are; 1) cancellation in the event of COVID Infection or confinement (43%), 2) Medical Assistance & Repatriation (22%), 3) Reimbursement of unused travel days in case their stay is interrupted (20%)
- 23% of Americans favored coverage for reimbursement for unused days compared to 20% of Europeans.
- While Europeans (23%) found more peace of mind from Medical Assistance & Repatriation coverage compared to Americans (17%).