Richmond, Virginia, May 3, 2022 – The pandemic has led to a rise in the eco-conscious consumer with a greater appetite for environmentally friendly journeys, according to trends identified by travel insurance provider Allianz Partners. As we enter a post-pandemic travel era, travelers are beginning to think about the environmental impact of their journeys and taking more responsibility for their own personal impact on the environmentⁱ. The renewed focus on greener journeys was a key takeaway that emerged from this year’s Allianz Partners Global Travel Summit.

The virtual Allianz Partners three-day travel summit included more than 1,000 attendees, and focused on emerging trends in the travel industry as the world emerges from the global pandemic and faces a new set of challenges as a result of geo-political and economic uncertainty.

The Rise of Ethical Travel

Allianz Partners partnered with global consumer trends agency Foresight Factory and other industry experts to explore current and upcoming trends impacting travel, allowing Allianz Partners to stay ahead of the curve in terms of meeting the evolving needs of customers around the world.

The trends presented at the Summit were based on extensive research carried out by both Foresight Factory and Allianz Partners’ Customer Lab research which found that it’s now – more than ever – socially desirable to put the planet first and make more ethical, sustainable, and greener choices. This was supported by research findings such as that nearly six in ten (59%) Family Millennials, aged 26 – 40, say they will pay more attention to the environmental impact of their travel in the future, compared to pre-pandemicⁱⁱ. Additionally, over seven in ten consumers in Great Britain, Germany, and the USA say that sustainability filters on travel sites would help them make better choices and to live more sustainablyⁱⁱⁱ.

The social ethics of traveling is weighing on the minds of travelers as they consider the various eco-conscious travel options available to them. Over half (55%) of Family Millennials aged 26-40 surveyed are intending to travel less in the future^iv, further reducing their environmental footprint. The slow travel trend, which positions the journey itself as a holiday destination or activity, also promotes more sustainable holiday options like train travel or travel by recreational vehicle (e.g. motorhome, camper van, coach, caravan).

Speaking from the Summit, Joe Mason, Chief Marketing Officer – Travel at Allianz Partners, said, “At this year’s event, we heard about the emerging trends in the travel industry, and it’s clear that a strong travel recovery is being faced with a new set of challenges. Economic vitality, geo-political unrest, and a rising cost of living – coupled with a desire to make sustainable and eco-friendly choices –all will have a lasting impact on our industry.

“The need to adapt to this new travel landscape has never been more important and is a priority for us at Allianz Partners. We are helping our customers and partners navigate through these challenging times and are focused on turning travel insurance into full end-to-end travel protection, and we’re excited about what the future holds.”

Macroeconomic Conditions

The travel industry is not immune to economic forces. Another dominant topic from the Summit pointed to the impact of economic conditions on confidence in travel. Where people travel, how long they travel, and how much they spend is directly impacted by inflation, rising energy costs, and a general rise in cost of living.

Households are feeling the direct impact of the geo-political unrest with supply chain issues causing major economic upheaval due to a surge in gas and food prices. For the travel industry, it is having a knock-on effect on the cost of travel, with long-haul flights, in particular, becoming increasingly expensive. However, it also is impacting prices for travel-related expenditures such as hotels and restaurants that may pass these price hikes on to consumers.

Ultimately, the risk is that leisure travel may no longer be seen as a priority by consumers who have limited surplus income each month and instead be considered a luxury they cannot afford.

Business Travel versus Sustainability Targets

The summit also found that a reduction in business travel has reduced costs for companies and helped them to lower their carbon emissions which has helped businesses meet sustainability targets. However, many employees long for face-to-face interaction with their clients and customers. Businesses are now at a crossroads between meeting sustainability targets and employee desires. As employees get back into the office, the correlation between a desire for and appetite for business travel has increased with some companies using business travel for recruitment and retention.

The summit found that the rise of the eco-conscious consumer following the Covid-19 pandemic, coupled with a turbulent geo-political landscape and the transformation of business travel, will create some headwinds for an otherwise robust travel recovery.

Allianz Partners offers travel insurance through leading travel agents, online travel agencies, hotel companies, cruise lines, directly to consumers and through most major U.S. airlines. For more information, please visit: www.allianztravelinsurance.com.  

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Press contact

FINN Partners
Robin Magrisi / Robin.Magrisi@finnpartners.com
Jennifer Castillo / Jennifer.Castillo@finnpartners.com         

About Allianz Partners USA
In the United States, Allianz Partners USA (AGA Service Company) offers Allianz Travel-branded travel protection plans and serves millions of customers each year. In addition to travel protection, the company offers event ticket protection, registration protection for endurance events and unique travel assistance services such as international medical assistance and concierge services. AGA Service Company is doing business as Allianz Global Assistance Insurance Agency in California (License # 0B01400) and Massachusetts. Allianz Partners USA is part of the Allianz Partners group.

For Allianz Partners USA products offered and sold in the U.S.: Terms, conditions, and exclusions apply to all plans. Plans are available only to U.S. residents. Not all plans are available in all jurisdictions. Availability of Epidemic Coverage Endorsement, including specific benefits and covered reasons described here, varies by product and by state. Products may not include all benefits or covered reasons described here. All benefits are subject to maximum limits of liability, which may in some cases be subject to sublimits and daily maximums. Benefits and limits vary by plan. For a complete description of the coverage and benefit limits offered under your specific plan, carefully review your plan’s Letter of Confirmation/Declarations and Certificate of Insurance/Policy. Insurance coverage is underwritten by BCS Insurance Company (OH, Administrative Office: Oakbrook Terrace, IL), rated "A" (Excellent) by A.M. Best Co., under BCS Form No. 52.201 series or 52.401 series, or Jefferson Insurance Company (NY, Administrative Office: Richmond, VA), rated "A+" (Superior) by A.M. Best Co., under Jefferson Form No. 101‐C series or 101‐P series, depending on state of residence. Except as otherwise specified, AGA Service Company d/b/a Allianz Global Assistance is the licensed producer and administrator of Allianz Travel-branded travel protection plans in the U.S. and an affiliate of Jefferson Insurance Company. Allianz Global Assistance, TravelSmart, and AgentSmart are marks of AGA Service Company or its affiliates. The insured shall not receive any special benefit or advantage due to the affiliation between Allianz Global Assistance and Jefferson Insurance Company. Plans include insurance and assistance services. Noninsurance benefits/products are provided and serviced by Allianz Global Assistance. SmartBenefits proactive payments and “no receipts” payments available only on certain plans. For plans that include proactive payments: when you opt in and provide flight information, Allianz Global Assistance will monitor flights and send flight status and benefit alerts, including alerts about flight delays that qualify for automated travel delay payments. Standard message/data rates apply to SMS alerts. Automated claims and payment system availability is not guaranteed and is subject to our sole discretion. All claims subject to policy terms, conditions, and exclusions.

About Allianz Partners

Allianz Partners is a world leader in B2B2C insurance and assistance, offering global solutions that span international health and life, travel insurance, mobility and assistance. Customer driven, our innovative experts are redefining insurance services by delivering future-ready, high-tech, high-touch products and solutions that go beyond traditional insurance. Our products are embedded seamlessly into our partners’ businesses and sold directly to customers, and are available through four commercial brands: Allianz Assistance, Allianz Automotive, Allianz Travel and Allianz Care. Present in over 75 countries, our 19,400 employees speak 70 languages, handle over 58 million cases each year, and are motivated to go the extra mile to offer peace of mind to our customers around the world.

About the Customer Lab

Allianz Partners’ Customer Lab, an in-house consumer intelligence incubator, supporting the Allianz Group and ist parners in understanding their customers’ key needs, attitudes and drivers of choice towards insurance and assistance solutions. Their proprietary quantitative database of customer insights surveyed over 60,000 customers across 27 countries around the world, generating over 25 million behavioral data points. In 2021, a new wave surveyed an additional 23,000 consumers across Mexico, Thailand, Japan, Singapore, Switzerland, Austria, Turkey, Slovakia, Romania, Portugal and Greece, and included questions related to COVID emerging new behaviors.

About Foresight Factory

Foresight Factory is a leading international consumer futures business. Our core expertise is based on identifying and forecasting social and consumer trends and determining the extent of their impacts on markets, services, brands and products. Since our launch in 1996, we have worked to meet the strategic needs of businesses through the application of insight. We identify, measure and examine trends, attitudes and behaviors through the rigorous analysis of quantitative and qualitative research. Our robust program of research provides businesses with the grounding and confidence to anticipate the likely impact of the evolving consumer environment.

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^I Foresight Factory, Base 854-4637, online respondents per country aged 16+, March 2021

ⁱⁱ Allianz Partners’ Customer Lab, an in-house consumer intelligence incubator, supporting the Allianz Group and its partners in understanding their customers’ key needs, attitudes and drivers of choice towards insurance and assistance solutions. Their proprietary quantitative database of customer insights surveyed over 2,500 consumers in USA in 2022 and included questions related to COVID emerging new behaviors.

ⁱⁱⁱ Foresight Factory, Base 786-4550, online respondents per country aged 16+, May 2020

^iv Allianz Partners’ Customer Lab, an in-house consumer intelligence incubator, supporting the Allianz Group and its partners in understanding their customers’ key needs, attitudes and drivers of choice towards insurance and assistance solutions. Their proprietary quantitative database of customer insights surveyed over 2,500 consumers in USA in 2022 and included questions related to COVID emerging new behaviors.