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The trend towards more bookings, longer vacations and higher vacation spending up to May is confirmed - but 57 percent have to limit their vacations further - Austrians more cautious when booking after the COVID pandemic: two-thirds rely on full protection for travel insurance - last-minute trips are a stumbling block
The Austrians have planned their vacation for a long time this year. While the number of early birders rose by 41 percent in January, last-minute bookings fell by 8 percent in May. This is shown by a current analysis by Austria's largest tariff comparison portal Durchblicker, which evaluated queries for travel insurance in the period from January to May and compared them with the data from the previous year. The major trend from earlier survey data at the beginning of the year, according to which significantly more people are going on vacation this year and spending around 10 percent more on vacation, is confirmed. However, this does not apply to everyone: According to a survey of 1.200 Austrians in May and June, significantly more than half of Austrians still have to limit their holidays due to budget reasons. In addition, Austrians are much more cautious after the pandemic and are increasingly taking out travel insurance.
“After three years of the pandemic, people want to make fewer cuts when it comes to vacation. Those who can afford it are going on vacation three days longer on average this year and are spending significantly more on vacation. According to our data, the average for adults is around 2.100 euros per capita. For many, however, holidays remain an unaffordable luxury in view of high inflation. Despite inflation, more people want to travel than last year. But 57 percent still say that they have to save when they go on vacation," says Patrick Madl, travel insurance expert at Durchblicker.
In the spring of 2022, two-thirds still stated that they had to limit themselves on vacation. Nevertheless, after visits to restaurants and bars (74 percent) and clothing and shoes (69 percent), vacation remains the largest item on which Austrian households save in everyday life.
Travel insurance comparisons up 12% this year
Those who go on holiday protect themselves much better against trip cancellation, holiday interruption, luggage theft and illnesses or accidents at the holiday destination. The comparisons of travel insurance offers on Durchblicker have increased by 12 percent compared to the previous year. "Two-thirds choose full protection this year, while last year the priority was cancellation protection," says Madl.
Top 3 destinations for travel protection: Austria, USA, Greece - insurance recommended for long-distance travel
The top 5 travel destinations in the insurance comparison by Durchblicker this year are Austria, the USA, Greece, Italy and Spain. Durchblicker recommends taking out comprehensive travel insurance, especially for long-distance trips and expensive bookings. Statutory health insurance does not pay in the event of damage outside of Europe, so international health insurance is essential for long-distance travel.
Interest in annual insurance is increasing, savings for families are particularly high
Comparing travel insurance is worthwhile: Both couples and families save up to a third of the costs (60 euros) by taking out individual travel insurance with the cheapest provider. The price differences for annual insurance are even higher, where you can save up to 62 percent (161 euros) with the cheapest provider. For families, annual insurance for two trips is already 139 euros cheaper than two individual insurance policies. Another advantage: Spontaneous short trips or weekend trips are also insured - even if family members travel individually or separately. Therefore, it is not surprising that annual insurance is in greater demand, especially among couples with children.
Watch out for last-minute deals: take out travel insurance on the day of booking
Anyone who relies on last-minute offers should take out travel insurance on the day of booking the trip or at the latest on the following day. “Waiting periods, so-called grace periods, are taken into account for the validity of the insurance cover. These deadlines are often ten days or more. If the insurance is taken out on the day the trip is booked, these waiting periods do not apply,” says Madl.
