Holiday Budgets Rebound From Covid Slump

As summer solstice marks the official beginning of summer in the Northern hemisphere, holiday season is quickly approaching. After two summers with subdued travel due to Covid-19, a significant rebound in travel activity is expected this year.

According to findings from Europ Assistance’s 2022 Holiday Barometer, 71 percent of Europeans and 60 percent of Americans are planning a trip this summer, up 14 and 10 percent from last year, respectively. That puts travel intentions across Europe even higher than 2019, while the U.S. still trails pre-pandemic holiday activity.

A look at average holiday budgets also indicates an end to the pandemic travel lull. While European travelers plan to spend an average of $1,900 this summer (ranging from $1,020 in Poland to $2,922 in Switzerland), American respondents have set aside $2,758 for their summer holidays this year. These are significant increases over last year’s travel budgets, while still trailing pre-pandemic levels in most cases.