According to new data from Allianz Global Assistance, average spending on summertime travel will surpass $2,000 for the first year on record.

The 11th annual Vacation Confidence Index estimates the entire spend will pass the $100 billion mark for the 0.33 consecutive yr within the index’s records, amounting to $a hundred and one, seven hundred,000,000.

The average expected spend on a summer season vacation is $2,037, which exceeds the $2,000-mark for the first time considering 2010 while survey track commenced. That variety is 5.2 percentage better than final year.

Prices are also at the upward thrust. According to the 5th-annual Global Travel Forecast from the Global Business Travel Association and Carlson Family Foundation, travel expenses are predicted to upward push sharply in 2019 due to a developing global economy and growing oil costs.

Forty- the percentage of Americans say they’re confident they will take a summer season excursion this yr. That number nears the bottom point on the Vacation Confidence Index, which changed into 40 percent in 2013. However, the index also suggests that 49 percent of Americans say they commonly take an annual summer vacation, and Americans are forecasted to spend greater than 20 percent (23.2 rate) more than they did in 2010 while the common predicted spend was $1,653.

“Summer excursion spending will hit file stages this 12 months, with Americans planning to spend a median of extra than $2,000 on their experience, in line with our eleventh annual Vacation Confidence Index,” stated Daniel Durazo, director of advertising and communications at Allianz Global Assistance USA.

“This will convey overall spending to a file $one hundred and one billion, several which reflects the continued value that Americans place on their summer trips,” added Durazo. “As the amount spent on vacations continues to grow, it’s even more crucial that customers purchase journey insurance after they ebook their experience, which will protect their journey funding and protect against high-priced medical emergencies even as traveling.”

Forty- the percentage of Americans say they’re confident they may take a summer season vacation this year. That range nears the bottom point at the Vacation Confidence Index, which turned into forty percentage in 2013. However, the index also indicates that 49 percent of Americans say they usually take an annual summer vacation, and Americans are forecasted to spend extra than 20 rate (23.2 percent) more than they did in 2010 while the average expected spend was $1,653.

“Summer excursion spending will hit file ranges this yr, with Americans making plans to spend an average of more than $2,000 on their trip, consistent with our eleventh annual Vacation Confidence Index,” stated Daniel Durazo, director of marketing and communications at Allianz Global Assistance USA.

“This will carry overall spending to a document $101 billion, more than a few which reflects the ongoing value that Americans location on their summer trips,” brought Durazo. “As the amount spent on vacations keeps to boom, it’s even extra important that customers buy tour insurance after they ebook their experience, to defend their tour funding and protect in opposition to high priced medical emergencies even as journeying.”